The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Raised by Ithaka Group LLC

Ithaka Group LLC boosted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 52.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,052 shares of the technology company’s stock after acquiring an additional 37,244 shares during the period. Trade Desk comprises about 1.9% of Ithaka Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Ithaka Group LLC’s holdings in Trade Desk were worth $10,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTD. Pinnacle Bancorp Inc. grew its position in Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after buying an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk during the first quarter valued at approximately $27,000. Bogart Wealth LLC increased its stake in shares of 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 acquiring an additional 222 shares during the period. Transcendent Capital Group LLC bought a new stake in Trade Desk during the second quarter worth approximately $30,000. Finally, Jones Financial Companies Lllp lifted its position in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Insiders have sold a total of 599,163 shares of company stock worth $61,246,529 in the last quarter. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Trading Up 1.5 %

NASDAQ:TTD opened at $106.06 on Monday. The stock has a 50 day simple moving average of $97.94 and a 200 day simple moving average of $92.22. The stock has a market cap of $52.14 billion, a P/E ratio of 265.16, a PEG ratio of 5.03 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $107.64.

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, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. Trade Desk’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

TTD has been the subject of several research reports. Loop Capital raised their target price on Trade Desk from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Bank of America initiated coverage on Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price target (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. Finally, KeyCorp upped their price objective on shares of Trade Desk from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

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.