Patron Partners LLC Buys Shares of 2,100 The Trade Desk, Inc. (NASDAQ:TTD)

Patron Partners LLC purchased a new position in The Trade Desk, Inc. (NASDAQ:TTD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,100 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Assets Advisory LLC purchased a new stake in Trade Desk in the 1st quarter worth $2,626,000. Franklin Resources Inc. boosted its stake in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after acquiring an additional 53,441 shares during the period. Nordea Investment Management AB grew its position in shares of Trade Desk by 11.4% during the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after purchasing an additional 70,201 shares in the last quarter. Nicholas Company Inc. raised its stake in Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after purchasing an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Trade Desk in the 1st quarter worth approximately $3,011,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Trade Desk in a research note on Friday, August 9th. Loop Capital lifted their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Piper Sandler restated an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Oppenheimer increased their target price on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC boosted their price target on shares of Trade Desk from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.85.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 141,434 shares of Trade Desk 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 sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,872 shares of the business’s 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 transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 642,868 shares of company stock worth $65,415,112. Company insiders own 10.18% of the company’s stock.

Trade Desk Stock Down 3.1 %

Shares of TTD stock traded down $3.23 during mid-day trading on Friday, hitting $100.31. 3,847,254 shares of the stock were exchanged, compared to its average volume of 3,246,430. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The firm has a fifty day moving average of $97.62 and a 200 day moving average of $91.43. The company has a market cap of $49.31 billion, a PE ratio of 250.78, a price-to-earnings-growth ratio of 5.14 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 25.9% compared to the same quarter last year. Equities analysts predict that The Trade Desk, Inc. will post 0.86 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.