First Trust Direct Indexing L.P. Buys 1,527 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

First Trust Direct Indexing L.P. raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,383 shares of the technology company’s stock after purchasing an additional 1,527 shares during the period. First Trust Direct Indexing L.P.’s holdings in Trade Desk were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Bancorp Inc. raised its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after buying an additional 163 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Trade Desk during the 1st quarter valued at about $27,000. Level Financial Advisors Inc. raised its position in shares of Trade Desk by 50.0% during the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Trade Desk by 889.4% during the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at about $42,000. Institutional investors own 67.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction 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 directly 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. Over the last quarter, insiders sold 340,154 shares of company stock valued at $31,128,226. Insiders own 10.18% of the company’s stock.

Trade Desk Stock Performance

TTD traded up $1.13 during trading on Thursday, hitting $99.47. The stock had a trading volume of 2,280,964 shares, compared to its average volume of 3,205,933. The company has a market capitalization of $48.65 billion, a PE ratio of 248.68, a PEG ratio of 5.04 and a beta of 1.48. The Trade Desk, Inc. has a twelve month low of $60.23 and a twelve month high of $100.25. The stock has a 50 day simple moving average of $93.28 and a two-hundred day simple moving average of $82.91.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Loop Capital increased their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. Wedbush began coverage on shares of Trade Desk in a research report on Monday, June 17th. They issued an “outperform” rating and a $110.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $108.00 price objective (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.69.

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.