The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Cut by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 70.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,900 shares of the technology company’s stock after selling 211,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Trade Desk were worth $8,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. raised its holdings in Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Trade Desk in the 1st quarter worth $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Trade Desk in the second quarter valued at $30,000. Bogart Wealth LLC boosted its stake in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in Trade Desk during the second quarter worth about $37,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the completion of the transaction, the chief executive officer now owns 765,180 shares of the company’s stock, valued at approximately $83,764,254.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $109.47, for a total value of $21,894,000.00. Following the completion of the sale, the chief executive officer now directly owns 765,180 shares of the company’s stock, valued at $83,764,254.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 996,748 shares of company stock worth $104,640,053. 10.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BTIG Research upped their price target on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley increased their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Loop Capital lifted their price target on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Finally, Truist Financial raised their price objective on Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.71.

Trade Desk Trading Up 2.1 %

Trade Desk stock opened at $110.79 on Wednesday. The company has a market capitalization of $54.19 billion, a P/E ratio of 276.98, a P/E/G ratio of 5.07 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $111.80. The firm’s fifty day simple moving average is $99.11 and its 200-day simple moving average is $93.47.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis. On average, equities research analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

About Trade Desk

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.