New England Research & Management Inc. Invests $359,000 in The Trade Desk, Inc. (NASDAQ:TTD)

New England Research & Management Inc. purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,675 shares of the technology company’s stock, valued at approximately $359,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew 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 during the period. Riverview Trust Co purchased a new position in shares of Trade Desk during the 1st quarter worth $27,000. Bogart Wealth LLC increased its position in shares of Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Jones Financial Companies Lllp increased 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 worth $33,000 after purchasing an additional 418 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Trade Desk in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on 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 transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now directly owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,909 shares of company stock valued at $20,827,601. 10.18% of the stock is owned by corporate insiders.

Trade Desk Stock Up 1.9 %

Trade Desk stock traded up $1.57 during midday trading on Tuesday, reaching $84.79. The company’s stock had a trading volume of 3,643,693 shares, compared to its average volume of 4,132,404. The company has a market cap of $41.47 billion, a P/E ratio of 211.98, a P/E/G ratio of 4.26 and a beta of 1.48. The business has a 50-day simple moving average of $95.53 and a 200-day simple moving average of $87.08. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $102.67.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS 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 return on equity of 9.41% and a net margin of 9.80%. As a group, equities analysts forecast that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TTD. KeyCorp increased their target price on shares of Trade Desk from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $105.00 in a report on Thursday, May 2nd. Stifel Nicolaus boosted their target price on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Trade Desk in a research report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $101.17.

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.