The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,712 shares of the technology company’s stock after purchasing an additional 802 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Trade Desk were worth $1,832,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in Trade Desk during the third quarter worth $242,000. Avitas Wealth Management LLC raised its holdings in Trade Desk by 32.9% during the third quarter. Avitas Wealth Management LLC now owns 20,607 shares of the technology company’s stock worth $2,260,000 after purchasing an additional 5,096 shares during the last quarter. Diversify Advisory Services LLC raised its holdings in Trade Desk by 33.1% during the third quarter. Diversify Advisory Services LLC now owns 3,891 shares of the technology company’s stock worth $463,000 after purchasing an additional 967 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Trade Desk by 112.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,678 shares of the technology company’s stock worth $623,000 after purchasing an additional 3,001 shares during the last quarter. Finally, abrdn plc raised its holdings in Trade Desk by 57.2% during the third quarter. abrdn plc now owns 79,618 shares of the technology company’s stock worth $8,730,000 after purchasing an additional 28,967 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

Shares of TTD opened at $121.98 on Thursday. The stock’s 50-day moving average is $109.80 and its two-hundred day moving average is $98.89. The stock has a market cap of $59.66 billion, a PE ratio of 304.95, a P/E/G ratio of 5.75 and a beta of 1.48. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $123.85.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the transaction, the chief executive officer now owns 664,261 shares in the company, valued at $68,897,150.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jeffrey Terry Green sold 135,922 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the transaction, the chief executive officer now owns 664,261 shares in the company, valued at approximately $68,897,150.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock worth $170,121,565 over the last quarter. 10.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTD. Needham & Company LLC lifted their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Susquehanna boosted their price target on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 price target on shares of Trade Desk in a report on Monday, October 7th. BTIG Research boosted their price target on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Oppenheimer boosted their price target on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.