Shellback Capital LP Sells 15,000 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Shellback Capital LP decreased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the technology company’s stock after selling 15,000 shares during the period. Shellback Capital LP’s holdings in Trade Desk were worth $11,720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. bought a new position in shares of Trade Desk in the 1st quarter worth approximately $225,710,000. Marshall Wace LLP increased its holdings in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares during the last quarter. Vanguard Group Inc. raised its position in Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Trade Desk by 3,973.6% during the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after acquiring an additional 437,967 shares during the last quarter. Finally, Steadfast Capital Management LP grew its position in shares of Trade Desk by 78.3% during the 1st quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after acquiring an additional 431,600 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

TTD has been the topic of a number of recent research reports. Benchmark raised their target price on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Bank of America started coverage on Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Robert W. Baird increased their target price on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.71.

Trade Desk Trading Down 1.2 %

Shares of TTD opened at $109.36 on Friday. The company’s fifty day simple moving average is $99.70 and its 200-day simple moving average is $93.70. The company has a market cap of $53.76 billion, a P/E ratio of 273.41, a P/E/G ratio of 5.33 and a beta of 1.48. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $112.22.

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 analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares of the company’s stock, valued at $9,887,713. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the sale, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. The disclosure for this sale can be found here. Insiders sold a total of 856,669 shares of company stock worth $91,009,247 in the last quarter. 10.18% of the stock is owned by company insiders.

Trade Desk Company 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.