The Trade Desk, Inc. (NASDAQ:TTD) Stock Holdings Decreased by Balentine LLC

Balentine LLC lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 30.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,004 shares of the technology company’s stock after selling 2,626 shares during the period. Balentine LLC’s holdings in Trade Desk were worth $586,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TTD. Vanguard Group Inc. increased its holdings in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. Norges Bank acquired a new stake in Trade Desk in the fourth quarter worth about $255,316,000. 1832 Asset Management L.P. bought a new position in Trade Desk in the 1st quarter valued at about $225,710,000. Jericho Capital Asset Management L.P. increased 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 acquiring an additional 100,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Trade Desk by 10.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after purchasing an additional 209,222 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Down 1.0 %

Shares of NASDAQ TTD opened at $99.32 on Tuesday. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $105.39. The company has a market cap of $48.82 billion, a P/E ratio of 248.31, a P/E/G ratio of 4.83 and a beta of 1.47. The business’s 50 day moving average is $97.65 and its two-hundred day moving average is $91.67.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Trade Desk’s revenue was up 25.9% compared to the same quarter last year. Sell-side analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now directly owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total value of $484,764.00. Following the sale, the insider now owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 135,922 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the transaction, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 642,868 shares of company stock valued at $65,415,112. Insiders own 10.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TTD shares. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a research report on Friday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 target price (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Royal Bank of Canada raised their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC boosted their price target on shares of Trade Desk from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.85.

About Trade Desk

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.