SteelPeak Wealth LLC Purchases 743 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

SteelPeak Wealth LLC lifted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 34.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,895 shares of the technology company’s stock after purchasing an additional 743 shares during the period. SteelPeak Wealth LLC’s holdings in Trade Desk were worth $317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Trade Desk in the 2nd quarter worth $30,000. EdgeRock Capital LLC purchased a new stake in Trade Desk in the 2nd quarter worth $37,000. Quarry LP purchased a new stake in Trade Desk in the 2nd quarter worth $41,000. Brown Lisle Cummings Inc. increased its stake in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Trade Desk in the 2nd quarter worth $43,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target for the company. in a research note on Tuesday. Wolfe Research assumed coverage on Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price target for the company. Oppenheimer raised their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Robert W. Baird raised their price objective on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Citigroup raised their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $115.60.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $120.21 on Friday. The company has a market cap of $59.09 billion, a P/E ratio of 240.42, a PEG ratio of 5.86 and a beta of 1.48. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $123.85. The firm has a 50-day simple moving average of $110.15 and a two-hundred day simple moving average of $99.05.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. As a group, equities research analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Transactions at Trade Desk

In other news, CFO Laura Schenkein sold 3,130 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. 9.72% of the stock is currently owned by company insiders.

Trade Desk Company 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.