Kensington Investment Counsel LLC lowered its position in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,167 shares of the technology company's stock after selling 827 shares during the period. Kensington Investment Counsel LLC's holdings in Trade Desk were worth $1,054,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Clearstead Advisors LLC increased its stake in shares of Trade Desk by 49.0% during the fourth quarter. Clearstead Advisors LLC now owns 468 shares of the technology company's stock worth $43,000 after purchasing an additional 154 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Trade Desk by 0.6% during the fourth quarter. Stephens Inc. AR now owns 26,103 shares of the technology company's stock worth $2,392,000 after purchasing an additional 155 shares in the last quarter. IHT Wealth Management LLC increased its stake in shares of Trade Desk by 5.4% during the fourth quarter. IHT Wealth Management LLC now owns 3,290 shares of the technology company's stock worth $301,000 after purchasing an additional 170 shares in the last quarter. Coastal Bridge Advisors LLC increased its stake in shares of Trade Desk by 6.0% during the fourth quarter. Coastal Bridge Advisors LLC now owns 3,179 shares of the technology company's stock worth $291,000 after purchasing an additional 179 shares in the last quarter. Finally, Bedel Financial Consulting Inc. increased its stake in shares of Trade Desk by 8.9% during the first quarter. Bedel Financial Consulting Inc. now owns 2,450 shares of the technology company's stock worth $170,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 67.71% of the company's stock.
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Insiders Place Their Bets
In other Trade Desk news, CFO Blake Jeffrey Grayson sold 3,676 shares of the firm's stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.50, for a total transaction of $266,510.00. Following the transaction, the chief financial officer now directly owns 197,858 shares of the company's stock, valued at approximately $14,344,705. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.79% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several analysts recently issued reports on TTD shares. Royal Bank of Canada dropped their price objective on shares of Trade Desk from $85.00 to $75.00 in a research note on Thursday, August 4th. Needham & Company LLC upped their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, August 10th. Wolfe Research started coverage on shares of Trade Desk in a research note on Tuesday, August 16th. They set a "market perform" rating for the company. DA Davidson upped their price objective on shares of Trade Desk from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, August 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Trade Desk from $75.00 to $65.00 in a research note on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.24.
Trade Desk Stock Performance
Shares of NASDAQ:TTD traded down $1.54 during trading hours on Friday, reaching $57.70. The stock had a trading volume of 6,962,386 shares, compared to its average volume of 3,736,403. The Trade Desk, Inc. has a 1 year low of $39.00 and a 1 year high of $114.09. The firm's 50 day moving average is $59.31 and its 200-day moving average is $56.78. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 824.40, a P/E/G ratio of 11.75 and a beta of 1.94.
Trade Desk (NASDAQ:TTD – Get Rating) last posted its earnings results on Tuesday, August 9th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The company had revenue of $376.96 million during the quarter, compared to analysts' expectations of $365.20 million. Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The company's quarterly revenue was up 34.6% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. Analysts forecast that The Trade Desk, Inc. will post 0.21 EPS for the current year.
Trade Desk Company Profile
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Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.
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