DNB Asset Management AS Purchases 2,591 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

DNB Asset Management AS lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,490 shares of the technology company’s stock after purchasing an additional 2,591 shares during the quarter. DNB Asset Management AS’s holdings in Trade Desk were worth $6,885,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new stake in Trade Desk during the first quarter valued at about $2,626,000. Franklin Resources Inc. increased its holdings 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 buying an additional 53,441 shares during the period. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after buying an additional 70,201 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Trade Desk by 30.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 287,352 shares of the technology company’s stock worth $21,078,000 after buying an additional 67,520 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Trade Desk by 30.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,370 shares of the technology company’s stock worth $4,776,000 after buying an additional 15,423 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock traded up $1.57 during mid-day trading on Tuesday, reaching $84.79. 3,641,535 shares of the company’s stock traded hands, compared to its average volume of 4,132,404. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $102.67. The firm has a 50 day moving average price of $95.97 and a two-hundred day moving average price of $86.83. The firm has a market capitalization of $41.47 billion, a PE ratio of 211.76, a price-to-earnings-growth ratio of 4.26 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its 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. The company had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. As a group, equities analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TTD has been the topic of several recent analyst reports. Susquehanna reissued a “positive” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group raised Trade Desk from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $105.00 in a research note on Thursday, May 2nd. Finally, Oppenheimer raised their target price on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.17.

Insider Buying and Selling

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $97.92, for a total transaction of $236,476.80. Following the transaction, the director now directly owns 34,056 shares of the company’s stock, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,909 shares of company stock valued at $20,827,601. Company insiders own 10.18% of the company’s stock.

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.