Raymond James Trust N.A. Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Raymond James Trust N.A. lifted its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,427 shares of the technology company's stock after buying an additional 2,753 shares during the period. Raymond James Trust N.A.'s holdings in Trade Desk were worth $1,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TTD. Pinnacle Bancorp Inc. increased its position in 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 bought a new position in Trade Desk during the 1st quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in Trade Desk in the 2nd quarter worth about $30,000. Bogart Wealth LLC raised its position in Trade Desk by 194.7% in the 1st 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 period. Finally, EdgeRock Capital LLC bought a new stake in Trade Desk in the second quarter worth about $37,000. Institutional investors own 67.77% of the company's stock.

Trade Desk Trading Up 1.8 %

Shares of TTD stock traded up $1.83 during trading hours on Friday, reaching $105.00. 2,060,854 shares of the company's stock were exchanged, compared to its average volume of 4,109,864. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 262.51, a P/E/G ratio of 5.23 and a beta of 1.48. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $105.39. The stock's 50 day moving average is $96.61 and its 200-day moving average is $89.81.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS 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 analysts' expectations of $578.03 million. During the same period last year, the business posted $0.07 earnings per share. The firm's revenue was up 25.9% compared to the same quarter last year. Equities analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,872 shares of the company'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 of the company's stock, valued at approximately $9,887,713. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Laura Schenkein sold 43,705 shares of the company's stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now directly owns 703,038 shares of the company's stock, valued at approximately $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. The disclosure for this sale can be found here. In the last quarter, insiders have sold 223,517 shares of company stock valued at $21,783,981. Insiders own 10.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Trade Desk from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 23rd. Stifel Nicolaus restated a "buy" rating and issued a $111.00 price target (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. BTIG Research raised their price target on shares of Trade Desk from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Piper Sandler reissued an "overweight" rating and issued a $110.00 price objective on shares of Trade Desk in a research report on Tuesday, June 11th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.26.

Trade Desk Company 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.

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