The Trade Desk, Inc. (NASDAQ:TTD) Position Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,814 shares of the technology company’s stock after acquiring an additional 1,679 shares during the quarter. iA Global Asset Management Inc.’s holdings in Trade Desk were worth $3,655,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank acquired a new position in Trade Desk during the 4th quarter valued at about $255,316,000. 1832 Asset Management L.P. acquired a new position in Trade Desk during the 1st quarter valued at about $225,710,000. International Assets Investment Management LLC boosted its stake in Trade Desk by 6,600.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after purchasing an additional 1,075,269 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Trade Desk by 2.0% during the 4th 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 in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred on 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 in the company, valued at $67,055,764.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,909 shares of company stock worth $20,827,601. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD traded down $4.82 during mid-day trading on Friday, hitting $82.93. The company’s stock had a trading volume of 2,895,616 shares, compared to its average volume of 4,110,563. The stock has a market cap of $40.56 billion, a price-to-earnings ratio of 205.60, a price-to-earnings-growth ratio of 4.60 and a beta of 1.48. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $102.67. The company’s fifty day simple moving average is $96.30 and its 200-day simple moving average is $86.39.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for 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%. On average, sell-side analysts predict that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on TTD shares. Wolfe Research initiated coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target on the stock. KeyCorp boosted their target price on shares of Trade Desk from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday. Oppenheimer boosted their target price on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 target price (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Finally, Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.17.

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.