Janney Montgomery Scott LLC Acquires 2,307 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Janney Montgomery Scott LLC increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,203 shares of the technology company’s stock after purchasing an additional 2,307 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Trade Desk were worth $18,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. 1832 Asset Management L.P. boosted its holdings in shares of Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after purchasing an additional 100,000 shares during the last quarter. Marshall Wace LLP grew its position in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares during the period. Victory Capital Management Inc. raised its stake in Trade Desk by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after buying an additional 177,832 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Trade Desk by 10.7% during the 2nd quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock valued at $155,547,000 after buying an additional 153,748 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTD has been the topic of a number of recent research reports. New Street Research downgraded Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price on the stock. in a report on Tuesday, October 29th. Wolfe Research initiated coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price target on the stock. Wells Fargo & Company assumed coverage on Trade Desk in a research note on Monday, October 28th. They issued an “overweight” rating and a $150.00 price objective for the company. Truist Financial upped their price target on Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Up 1.4 %

Shares of TTD opened at $119.94 on Wednesday. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $123.85. The company has a market cap of $58.96 billion, a PE ratio of 239.88, a P/E/G ratio of 5.73 and a beta of 1.47. The business has a fifty day moving average of $111.38 and a 200 day moving average of $100.28.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 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 firm 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 company earned $0.07 EPS. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction on Monday, October 21st. The stock was 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 $3,375,898.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk 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 sale, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the transaction, the chief financial officer now owns 693,953 shares in the company, valued at $80,102,994.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. 9.72% of the stock is currently owned by insiders.

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.