iA Global Asset Management Inc. Raises Stake in The Trade Desk, Inc. (NASDAQ:TTD)

iA Global Asset Management Inc. raised its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 4.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 41,814 shares of the technology company’s stock after buying an additional 1,679 shares during the period. iA Global Asset Management Inc.’s holdings in Trade Desk were worth $3,655,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after buying an additional 818,568 shares during the period. Jennison Associates LLC grew its holdings 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 acquiring an additional 6,978,352 shares in the last quarter. Norges Bank purchased a new position in Trade Desk during the 4th quarter valued at about $255,316,000. 1832 Asset Management L.P. purchased a new stake in shares of Trade Desk in the 1st quarter worth approximately $225,710,000. Finally, Jericho Capital Asset Management L.P. boosted its stake in shares of Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after purchasing an additional 100,000 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of Trade Desk in a research report on Monday, July 22nd. Stifel Nicolaus increased their price target on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Piper Sandler reissued an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a report on Thursday, July 25th. Finally, DA Davidson upped their price target on Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.17.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was 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 of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Insiders sold 213,909 shares of company stock valued at $20,827,601 over the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Trade Desk Trading Down 5.5 %

NASDAQ:TTD traded down $4.82 during trading hours on Friday, reaching $82.93. 2,895,616 shares of the company were exchanged, compared to its average volume of 4,110,563. The stock’s 50-day moving average is $96.30 and its 200-day moving average is $86.39. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $102.67. The firm has a market cap of $40.56 billion, a PE ratio of 205.60, a price-to-earnings-growth ratio of 4.60 and a beta of 1.48.

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

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.