Thurston Springer Miller Herd & Titak Inc. Purchases New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 444 shares of the technology company’s stock, valued at approximately $43,000.

A number of other hedge funds also recently bought and sold shares of TTD. Jennison Associates LLC grew its position in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank purchased a new position in Trade Desk in the 4th quarter worth approximately $255,316,000. 1832 Asset Management L.P. purchased a new position in Trade Desk in the 1st quarter worth approximately $225,710,000. Vanguard Group Inc. lifted its stake in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Trade Desk by 81.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock worth $105,472,000 after purchasing an additional 659,337 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $1.57 on Tuesday, reaching $84.79. The company’s stock had a trading volume of 3,643,693 shares, compared to its average volume of 4,132,404. The stock’s 50-day moving average is $95.97 and its two-hundred day moving average is $86.83. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $102.67. The stock has a market capitalization of $41.47 billion, a P/E ratio of 211.76, a PEG ratio of 4.26 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The business had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. Equities analysts forecast that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TTD shares. DA Davidson raised their price target on shares of Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Piper Sandler restated an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. BMO Capital Markets restated an “outperform” rating and set a $108.00 price target (up previously from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Wolfe Research started coverage on shares of Trade Desk in a report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $110.00 price target on shares of Trade Desk in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.17.

Insider Transactions at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The disclosure for this sale can be found here. Insiders have sold a total of 213,909 shares of company stock worth $20,827,601 over the last ninety days. 10.18% of the stock is currently 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.