The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Shellback Capital LP

Shellback Capital LP trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,000 shares of the technology company's stock after selling 15,000 shares during the period. Shellback Capital LP's holdings in Trade Desk were worth $11,720,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TTD. Pinnacle Bancorp Inc. lifted its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company's stock worth $26,000 after buying an additional 163 shares during the last quarter. Riverview Trust Co bought a new position in shares of Trade Desk in the first quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk during the 2nd quarter valued at approximately $30,000. Bogart Wealth LLC lifted its stake in Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in Trade Desk in the second quarter valued at approximately $37,000. 67.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TTD shares. Robert W. Baird boosted their price objective on Trade Desk from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, August 12th. Moffett Nathanson started coverage on Trade Desk in a research report on Monday. They issued a "neutral" rating and a $100.00 price target for the company. KeyCorp raised their price target on shares of Trade Desk from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Wedbush reiterated an "outperform" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Finally, Susquehanna increased their price target on Trade Desk from $110.00 to $135.00 and gave the company a "positive" rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average target price of $108.71.

Insider Activity

In other news, CFO Laura Schenkein sold 25,000 shares of the firm's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the company's stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at $70,606,106.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 856,669 shares of company stock worth $91,009,247. Company insiders own 10.18% of the company's stock.

Trade Desk Trading Up 0.6 %

Shares of TTD traded up $0.62 during trading hours on Friday, reaching $109.98. 803,576 shares of the stock traded hands, compared to its average volume of 3,933,631. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $112.22. The company's 50-day moving average price is $99.70 and its two-hundred day moving average price is $93.70. The company has a market cap of $54.06 billion, a P/E ratio of 273.41, a price-to-earnings-growth ratio of 5.33 and a beta of 1.48.

Trade Desk (NASDAQ:TTD - Get Free Report) 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. The business had revenue of $584.55 million for the quarter, compared to analysts' expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business's revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, research analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current year.

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.