Wealthspire Advisors LLC Takes $599,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Wealthspire Advisors LLC acquired a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,128 shares of the technology company’s stock, valued at approximately $599,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Trade Desk in the 4th quarter valued at $255,316,000. 1832 Asset Management L.P. purchased a new stake in Trade Desk during the first quarter worth about $225,710,000. Vanguard Group Inc. boosted its stake in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Trade Desk by 3,973.6% in the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock valued at $43,836,000 after purchasing an additional 437,967 shares in the last quarter. Finally, Steadfast Capital Management LP increased its stake in Trade Desk by 78.3% during the 1st quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after buying an additional 431,600 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were 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 directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at approximately $39,682,694.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 599,163 shares of company stock valued at $61,246,529. Corporate insiders own 10.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TTD shares. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Trade Desk in a research report on Wednesday, September 11th. Cantor Fitzgerald began coverage on shares of Trade Desk in a research note on Thursday, September 5th. They set a “neutral” rating and a $110.00 target price for the company. Wolfe Research initiated coverage on Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price objective for the company. Loop Capital raised their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Robert W. Baird upped their price target on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $109.05.

Trade Desk Stock Down 0.7 %

Shares of NASDAQ:TTD opened at $105.37 on Tuesday. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $107.64. The company has a 50-day moving average price of $97.94 and a 200 day moving average price of $92.22. The company has a market cap of $51.54 billion, a P/E ratio of 263.43, a PEG ratio of 5.03 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current year.

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.