The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 54.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,163 shares of the technology company’s stock after selling 131,444 shares during the period. Canada Pension Plan Investment Board’s holdings in Trade Desk were worth $10,760,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TTD. Benjamin F. Edwards & Company Inc. lifted its holdings in Trade Desk by 64.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 31,761 shares of the technology company’s stock worth $3,102,000 after buying an additional 12,500 shares in the last quarter. Brighton Jones LLC increased its position in shares of Trade Desk by 11.8% during the second quarter. Brighton Jones LLC now owns 4,503 shares of the technology company’s stock worth $440,000 after acquiring an additional 474 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Trade Desk by 17.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,411 shares of the technology company’s stock worth $4,337,000 after acquiring an additional 6,656 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Trade Desk by 1.2% in the second quarter. Amalgamated Bank now owns 29,871 shares of the technology company’s stock worth $2,918,000 after acquiring an additional 349 shares in the last quarter. Finally, Wealth Alliance grew its stake in Trade Desk by 0.6% during the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after purchasing an additional 106 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BTIG Research upped their target price on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Macquarie reiterated an “outperform” rating and set a $115.00 price objective on shares of Trade Desk in a research note on Friday, August 9th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Tuesday. Wolfe Research began coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Robert W. Baird lifted their price target on Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $108.71.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $108.53 on Tuesday. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $111.80. The company has a market capitalization of $53.08 billion, a P/E ratio of 271.33, a PEG ratio of 5.07 and a beta of 1.48. The business’s fifty day moving average price is $98.92 and its two-hundred day moving average price is $93.27.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The disclosure for this sale can be found here. Insiders sold 596,748 shares of company stock worth $61,010,053 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.