Griffin Asset Management Inc. Raises Position in The Trade Desk, Inc. (NASDAQ:TTD)

Griffin Asset Management Inc. grew its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,610 shares of the technology company’s stock after purchasing an additional 3,104 shares during the quarter. Griffin Asset Management Inc.’s holdings in Trade Desk were worth $6,896,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Pinnacle Bancorp Inc. increased its position in shares of Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co purchased a new position in Trade Desk in the first quarter worth $27,000. Bogart Wealth LLC boosted its position in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Trade Desk in the second quarter worth $43,000. Finally, Jones Financial Companies Lllp boosted its position in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total value of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares in the company, valued at approximately $9,887,713. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The disclosure for this sale can be found here. Insiders sold a total of 223,517 shares of company stock valued at $21,783,981 in the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Trade Desk Stock Down 1.1 %

Shares of NASDAQ:TTD traded down $1.19 during trading on Thursday, hitting $103.17. The stock had a trading volume of 2,159,190 shares, compared to its average volume of 4,141,755. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $104.69. The company has a market capitalization of $50.72 billion, a PE ratio of 260.91, a PEG ratio of 5.14 and a beta of 1.48. The firm’s fifty day moving average is $96.27 and its 200 day moving average is $89.16.

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

Analyst Ratings Changes

Several research firms have weighed in on TTD. Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price objective (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. Royal Bank of Canada upped their price target on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Loop Capital upped their price target on Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Robert W. Baird upped their price target on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, BTIG Research upped their price target on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $107.26.

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.