Arkadios Wealth Advisors Takes $302,000 Position in The Trade Desk, Inc. (NASDAQ:TTD)

Arkadios Wealth Advisors bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the 3rd quarter, Holdings Channel reports. The fund bought 2,751 shares of the technology company’s stock, valued at approximately $302,000.

Several other hedge funds also recently modified their holdings of the business. 1832 Asset Management L.P. boosted its stake in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of 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 acquiring an additional 100,000 shares during the period. Marshall Wace LLP raised its position in shares of Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after acquiring an additional 872,555 shares during the period. Victory Capital Management Inc. raised its position in shares of Trade Desk by 12.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after acquiring an additional 177,832 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Trade Desk by 10.7% in the 2nd quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock valued at $155,547,000 after acquiring an additional 153,748 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 1.5 %

NASDAQ:TTD opened at $120.21 on Friday. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $123.85. The firm has a fifty day simple moving average of $110.15 and a 200 day simple moving average of $99.05. The stock has a market capitalization of $58.80 billion, a PE ratio of 300.53, a P/E/G ratio of 5.75 and a beta of 1.48.

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

Insider Buying and Selling

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Laura Schenkein sold 3,130 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the sale, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. The trade was 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. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,557,897 shares of company stock valued at $170,121,565. Company insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. Robert W. Baird increased their price target on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Bank of America started coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target on the stock. Truist Financial raised their target price on shares of Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Benchmark raised their target price on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Finally, BTIG Research raised their target price on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.60.

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.