Park Avenue Securities LLC Sells 8,112 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Park Avenue Securities LLC lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 19.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,114 shares of the technology company’s stock after selling 8,112 shares during the quarter. Park Avenue Securities LLC’s holdings in Trade Desk were worth $3,741,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank of Nova Scotia increased its holdings in Trade Desk by 307.7% in the fourth quarter. Bank of Nova Scotia now owns 13,388 shares of the technology company’s stock valued at $963,000 after purchasing an additional 10,104 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Trade Desk by 4.7% during the 4th quarter. Belpointe Asset Management LLC now owns 3,438 shares of the technology company’s stock worth $247,000 after buying an additional 154 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Trade Desk by 10.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after acquiring an additional 209,222 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Trade Desk by 101.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 35,232 shares of the technology company’s stock worth $2,535,000 after acquiring an additional 17,731 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Trade Desk by 37.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 49,578 shares of the technology company’s stock valued at $3,568,000 after purchasing an additional 13,536 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TTD shares. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. Citigroup increased their target price on Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a research note on Friday, August 9th. Needham & Company LLC increased their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average price target of $109.89.

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,077,248 shares of company stock worth $115,353,156. Insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

TTD opened at $113.00 on Friday. The stock has a fifty day moving average of $101.52 and a 200-day moving average of $95.10. The company has a market capitalization of $55.27 billion, a P/E ratio of 282.50, a P/E/G ratio of 5.23 and a beta of 1.48. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $113.84.

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

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.