First Trust Direct Indexing L.P. Increases Position in The Trade Desk, Inc. (NASDAQ:TTD)

First Trust Direct Indexing L.P. increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 11.9% in the first quarter, HoldingsChannel.com reports. The firm owned 14,383 shares of the technology company’s stock after acquiring an additional 1,527 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Trade Desk were worth $1,257,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TTD. Level Financial Advisors Inc. grew its stake in Trade Desk by 50.0% in the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Trade Desk by 1.6% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 9,292 shares of the technology company’s stock worth $669,000 after purchasing an additional 150 shares during the last quarter. Fiduciary Trust Co boosted its stake in shares of Trade Desk by 1.1% during the 4th quarter. Fiduciary Trust Co now owns 13,800 shares of the technology company’s stock worth $993,000 after purchasing an additional 150 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of Trade Desk by 4.7% in the fourth quarter. Belpointe Asset Management LLC now owns 3,438 shares of the technology company’s stock worth $247,000 after acquiring an additional 154 shares during the last quarter. Finally, Mutual Advisors LLC boosted its position in shares of Trade Desk by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 4,502 shares of the technology company’s stock worth $324,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush assumed coverage on shares of Trade Desk in a research report on Monday, June 17th. They issued an “outperform” rating and a $110.00 target price on the stock. Truist Financial reissued a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a research report on Thursday, May 16th. Jefferies Financial Group raised shares of Trade Desk from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $105.00 in a research report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research report on Thursday, May 9th. Finally, Citigroup raised their price target on shares of Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.69.

Trade Desk Stock Up 1.1 %

Shares of TTD traded up $1.13 during mid-day trading on Thursday, reaching $99.47. 2,280,964 shares of the stock traded hands, compared to its average volume of 3,205,933. The firm has a market cap of $48.65 billion, a price-to-earnings ratio of 248.68, a P/E/G ratio of 5.04 and a beta of 1.48. The stock has a fifty day simple moving average of $93.28 and a 200 day simple moving average of $82.91. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $100.25.

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

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction on 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 directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the business’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 completion of the sale, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 2,600 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the sale, the chief executive officer now owns 974,022 shares of the company’s stock, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold 340,154 shares of company stock valued at $31,128,226 over the last ninety days. 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.