Commonwealth Equity Services LLC lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,773 shares of the technology company's stock after selling 28,988 shares during the period. Commonwealth Equity Services LLC's holdings in Trade Desk were worth $9,876,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. San Luis Wealth Advisors LLC bought a new stake in shares of Trade Desk during the 1st quarter worth approximately $42,000. Whittier Trust Co. of Nevada Inc. bought a new position in Trade Desk in the 1st quarter valued at approximately $42,000. Rise Advisors LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $62,000. Vestor Capital LLC bought a new position in Trade Desk in the 1st quarter valued at approximately $47,000. Finally, Samalin Investment Counsel LLC lifted its stake in Trade Desk by 435.7% in the 4th quarter. Samalin Investment Counsel LLC now owns 750 shares of the technology company's stock valued at $69,000 after purchasing an additional 610 shares during the last quarter. Institutional investors own 67.71% of the company's stock.
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Insider Buying and Selling
In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of the 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 $14,344,705. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.79% of the stock is owned by insiders.
Analyst Ratings Changes
TTD has been the subject of several research reports. DA Davidson increased 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. 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. Evercore ISI increased their price objective on shares of Trade Desk to $75.00 in a research note on Monday, August 15th. KeyCorp upped their price target on shares of Trade Desk from $52.00 to $70.00 and gave the company an "overweight" rating in a research report on Wednesday, August 10th. Finally, Royal Bank of Canada decreased their price target on shares of Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.75.
Trade Desk Stock Up 2.3 %
Shares of NASDAQ TTD opened at $61.13 on Tuesday. The firm has a market cap of $29.64 billion, a PE ratio of 873.41, a P/E/G ratio of 11.86 and a beta of 1.88. The Trade Desk, Inc. has a 12-month low of $39.00 and a 12-month high of $114.09. The company's fifty day simple moving average is $60.86 and its 200 day simple moving average is $56.70.
Trade Desk (NASDAQ:TTD – Get Rating) last issued its earnings results on Tuesday, August 9th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $376.96 million for the quarter, compared to the consensus estimate of $365.20 million. Trade Desk had a return on equity of 2.16% and a net margin of 2.43%. The firm's revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities analysts predict that The Trade Desk, Inc. will post 0.21 earnings per share 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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