The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,213 shares of the technology company’s stock after selling 1,696 shares during the period. Wedbush Securities Inc.’s holdings in Trade Desk were worth $2,267,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Trade Desk in the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. acquired a new stake in shares of Trade Desk during the 1st quarter worth about $225,710,000. Vanguard Group Inc. boosted its stake in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the period. Nikko Asset Management Americas Inc. increased its position in shares of Trade Desk by 138.3% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 765,157 shares of the technology company’s stock valued at $55,053,000 after acquiring an additional 444,032 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Trade Desk by 3,973.6% during the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after purchasing an additional 437,967 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Down 1.0 %

NASDAQ TTD opened at $99.32 on Tuesday. The firm 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 Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $105.39. The business’s 50-day moving average price is $97.65 and its 200 day moving average price is $91.67.

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 the consensus estimate 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 quarter in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the firm’s 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 sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Insiders have sold a total of 642,868 shares of company stock valued at $65,415,112 over the last quarter. Corporate insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TTD shares. BTIG Research boosted their price objective on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America initiated coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target on the stock. Citigroup lifted their price objective on shares of Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 9th. Susquehanna increased their target price on shares of Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Finally, Oppenheimer boosted their price target on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $108.85.

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.