Allspring Global Investments Holdings LLC Has $63.39 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Allspring Global Investments Holdings LLC grew its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 648,995 shares of the technology company’s stock after acquiring an additional 7,554 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.13% of Trade Desk worth $63,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Norges Bank purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. bought a new stake in Trade Desk during the first quarter worth $225,710,000. Jericho Capital Asset Management L.P. raised its position in Trade Desk by 4.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after buying an additional 100,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Trade Desk by 10.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after buying an additional 209,222 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TTD shares. Robert W. Baird upped their target price on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Jefferies Financial Group raised shares of Trade Desk from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $105.00 in a research report on Thursday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. Macquarie reiterated an “outperform” rating and set a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Finally, Oppenheimer boosted their price objective on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average target price of $107.72.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 43,705 shares of the company’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 completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The disclosure for this sale can be found here. Insiders sold a total of 642,868 shares of company stock worth $65,415,112 over the last ninety days. 10.18% of the stock is owned by corporate insiders.

Trade Desk Trading Down 0.0 %

TTD stock opened at $103.92 on Wednesday. The firm has a 50 day moving average of $96.83 and a 200-day moving average of $90.28. The firm has a market capitalization of $51.08 billion, a P/E ratio of 259.81, a price-to-earnings-growth ratio of 5.23 and a beta of 1.48. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $105.39.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Sell-side analysts predict that The Trade Desk, Inc. will post 0.86 EPS for the current year.

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.