Quantinno Capital Management LP Sells 182 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Posted by Defense World Staff on Aug 2nd, 2023

Quantinno Capital Management LP lessened its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,932 shares of the technology company’s stock after selling 182 shares during the period. Quantinno Capital Management LP’s holdings in Trade Desk were worth $300,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Trade Desk by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 39,911,814 shares of the technology company’s stock worth $2,763,893,000 after purchasing an additional 263,838 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Trade Desk by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,447,010 shares of the technology company’s stock worth $647,660,000 after purchasing an additional 135,704 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Trade Desk by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,367,719 shares of the technology company’s stock worth $599,275,000 after purchasing an additional 1,239,936 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Trade Desk by 40.1% in the 4th quarter. JPMorgan Chase & Co. now owns 12,121,782 shares of the technology company’s stock worth $543,421,000 after purchasing an additional 3,470,657 shares during the last quarter. Finally, State Street Corp raised its position in shares of Trade Desk by 0.6% in the 3rd quarter. State Street Corp now owns 8,851,640 shares of the technology company’s stock worth $528,885,000 after purchasing an additional 51,815 shares during the last quarter. Institutional investors own 68.55% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $90.05 on Wednesday. The Trade Desk, Inc. has a fifty-two week low of $39.43 and a fifty-two week high of $91.85. The firm has a market capitalization of $44.02 billion, a PE ratio of 600.33, a PEG ratio of 8.33 and a beta of 1.78. The stock’s fifty day moving average is $78.46 and its 200 day moving average is $65.13.

Trade Desk (NASDAQ:TTD – Get Free Report) last released its earnings results on Wednesday, May 10th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.05. Trade Desk had a return on equity of 3.99% and a net margin of 4.70%. The business had revenue of $382.80 million during the quarter, compared to the consensus estimate of $364.85 million. Equities analysts forecast that The Trade Desk, Inc. will post 0.46 EPS for the current year.

Insider Activity

In other news, CTO David Randall Pickles sold 2,020 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $62.27, for a total transaction of $125,785.40. Following the transaction, the chief technology officer now owns 531,087 shares in the company, valued at $33,070,787.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Trade Desk news, CTO David Randall Pickles sold 2,020 shares of Trade Desk stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $62.27, for a total value of $125,785.40. Following the transaction, the chief technology officer now owns 531,087 shares in the company, valued at $33,070,787.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells sold 20,000 shares of Trade Desk stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $70.00, for a total value of $1,400,000.00. Following the completion of the transaction, the director now owns 86,570 shares in the company, valued at approximately $6,059,900. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,403 shares of company stock worth $10,119,691. Company insiders own 10.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TTD shares. StockNews.com started coverage on Trade Desk in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Stifel Nicolaus boosted their target price on Trade Desk from $75.00 to $91.00 in a research report on Friday, July 21st. Redburn Partners started coverage on Trade Desk in a research report on Tuesday, July 18th. They issued a “sell” rating and a $34.00 target price for the company. New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $57.00 to $69.00 in a research report on Tuesday, July 18th. Finally, Evercore ISI boosted their target price on Trade Desk from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.86.

About Trade Desk

(Free Report)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates 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.