2,827 Shares in The Trade Desk, Inc. (NASDAQ:TTD) Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,827 shares of the technology company’s stock, valued at approximately $247,000.

Several other hedge funds have also recently modified their holdings of TTD. Pinnacle Bancorp Inc. raised its position in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares in the last quarter. Riverview Trust Co purchased a new position in Trade Desk in the first quarter worth $27,000. Bogart Wealth LLC raised its position in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. Level Financial Advisors Inc. raised its position in Trade Desk by 50.0% in the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after acquiring an additional 418 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TTD has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a research report on Thursday. Citigroup raised their price target on Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Royal Bank of Canada raised their price target on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Morgan Stanley raised their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Trade Desk Stock Up 1.7 %

Shares of NASDAQ TTD traded up $1.55 during midday trading on Friday, hitting $92.43. The stock had a trading volume of 2,700,022 shares, compared to its average volume of 3,455,347. The company has a market capitalization of $45.21 billion, a price-to-earnings ratio of 231.08, a PEG ratio of 4.73 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $102.67. The company has a fifty day moving average price of $96.63 and a 200 day moving average price of $85.79.

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

Insider Activity

In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold 288,909 shares of company stock valued at $27,162,851 in the last three months. Corporate 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.