The Trade Desk $TTD Shares Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC grew its holdings in shares of The Trade Desk (NASDAQ:TTD) by 299.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,080 shares of the technology company’s stock after buying an additional 12,802 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Trade Desk were worth $1,230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTD. Brighton Jones LLC grew its holdings in Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after purchasing an additional 169 shares in the last quarter. Bison Wealth LLC boosted its position in Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after buying an additional 485 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Trade Desk by 168.5% during the first quarter. Blair William & Co. IL now owns 34,703 shares of the technology company’s stock valued at $1,899,000 after acquiring an additional 21,779 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock valued at $2,420,689,000 after acquiring an additional 1,567,491 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Trade Desk during the first quarter worth about $1,719,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TTD. Susquehanna dropped their price objective on Trade Desk from $135.00 to $85.00 and set a “positive” rating on the stock in a report on Friday, November 7th. BMO Capital Markets decreased their price target on shares of Trade Desk from $115.00 to $98.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Piper Sandler dropped their price target on shares of Trade Desk from $65.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, November 7th. Finally, Jefferies Financial Group downgraded shares of Trade Desk from a “buy” rating to a “hold” rating and reduced their price objective for the company from $100.00 to $50.00 in a research note on Monday, August 11th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.19.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,403 shares of Trade Desk stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $48.20, for a total value of $67,624.60. Following the completion of the transaction, the director directly owned 5,035 shares in the company, valued at $242,687. The trade was a 21.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is owned by corporate insiders.

Trade Desk Price Performance

Trade Desk stock opened at $40.05 on Friday. The Trade Desk has a 12 month low of $38.22 and a 12 month high of $139.34. The company has a fifty day moving average price of $46.66 and a two-hundred day moving average price of $59.62. The company has a market cap of $19.37 billion, a PE ratio of 46.03, a P/E/G ratio of 1.96 and a beta of 1.07.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company had revenue of $739.43 million for the quarter, compared to the consensus estimate of $719.11 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase program on Thursday, November 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.