Congress Asset Management Co. MA Raises Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Congress Asset Management Co. MA grew its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 983,695 shares of the technology company’s stock after purchasing an additional 24,198 shares during the quarter. Congress Asset Management Co. MA’s holdings in Trade Desk were worth $85,995,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Trade Desk by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after purchasing an additional 53,441 shares during the period. Nordea Investment Management AB lifted its stake in Trade Desk by 31.7% in the fourth quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock worth $44,226,000 after acquiring an additional 147,717 shares during the period. Asset Management One Co. Ltd. lifted its stake in Trade Desk by 30.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock worth $21,078,000 after acquiring an additional 67,520 shares during the period. Raymond James & Associates lifted its stake in Trade Desk by 12.8% in the fourth quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock worth $18,161,000 after acquiring an additional 28,714 shares during the period. Finally, Deane Retirement Strategies Inc. lifted its stake in Trade Desk by 126.8% in the fourth quarter. Deane Retirement Strategies Inc. now owns 26,227 shares of the technology company’s stock worth $1,887,000 after acquiring an additional 14,662 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Up 0.4 %

Trade Desk stock traded up $0.43 during mid-day trading on Friday, hitting $97.71. The company had a trading volume of 4,007,546 shares, compared to its average volume of 2,753,869. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $99.54. The company’s fifty day moving average is $90.50 and its 200-day moving average is $81.46. The company has a market capitalization of $47.79 billion, a price-to-earnings ratio of 244.28, a P/E/G ratio of 4.98 and a beta of 1.49.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The business had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. Loop Capital upped their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Susquehanna reaffirmed a “positive” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Thursday, May 16th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a report on Thursday, May 9th. Finally, Wedbush assumed coverage on shares of Trade Desk in a report on Monday, June 17th. They issued an “outperform” rating and a $110.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $93.69.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $85.42, for a total transaction of $6,406,500.00. Following the transaction, the chief executive officer now owns 1,117,629 shares in the company, valued at approximately $95,467,869.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $85.42, for a total value of $6,406,500.00. Following the completion of the transaction, the chief executive officer now owns 1,117,629 shares in the company, valued at approximately $95,467,869.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,312 shares of company stock worth $29,287,441. 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.