Lake Street Advisors Group LLC Lowers Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Lake Street Advisors Group LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 29.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,039 shares of the technology company’s stock after selling 852 shares during the period. Lake Street Advisors Group LLC’s holdings in Trade Desk were worth $224,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in shares of Trade Desk in the second quarter worth approximately $30,000. Brown Lisle Cummings Inc. increased its holdings in Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after buying an additional 150 shares during the period. EdgeRock Capital LLC bought a new position in Trade Desk in the second quarter worth about $37,000. Quarry LP purchased a new stake in Trade Desk during the second quarter valued at approximately $41,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Trade Desk in the second quarter valued at about $43,000. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TTD. Needham & Company LLC upped their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research initiated coverage on Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. KeyCorp boosted their price target on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Citigroup raised their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Loop Capital upped their price objective on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.97.

Trade Desk Trading Up 1.1 %

Shares of Trade Desk stock opened at $119.47 on Monday. The company has a fifty day simple moving average of $109.08 and a 200-day simple moving average of $98.42. The stock has a market cap of $58.44 billion, a price-to-earnings ratio of 298.68, a PEG ratio of 5.73 and a beta of 1.48. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $121.44.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) 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 company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Laura Schenkein sold 3,130 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the completion of the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 over the last quarter. Company insiders own 10.18% of the company’s stock.

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.