Covestor Ltd Sells 222 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Covestor Ltd lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 9.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,088 shares of the technology company’s stock after selling 222 shares during the period. Covestor Ltd’s holdings in Trade Desk were worth $229,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in Trade Desk in the 2nd quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in Trade Desk in the second quarter valued at $37,000. Quarry LP bought a new position in Trade Desk during the 2nd quarter worth $41,000. Brown Lisle Cummings Inc. lifted its holdings in Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after buying an additional 150 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Moffett Nathanson started coverage on Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company assumed coverage on shares of Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 target price for the company. Bank of America assumed coverage on shares of Trade Desk in a report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Truist Financial increased their price target on Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $120.69.

Trade Desk Trading Down 5.6 %

Shares of Trade Desk stock opened at $125.13 on Friday. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $132.65. The company has a market capitalization of $61.51 billion, a P/E ratio of 205.13, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. The stock has a fifty day simple moving average of $112.83 and a 200 day simple moving average of $101.14.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.73%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, analysts predict that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Trade Desk Company 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.