Edgestream Partners L.P. Acquires Shares of 31,121 The Trade Desk $TTD

Edgestream Partners L.P. bought a new position in The Trade Desk (NASDAQ:TTD) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 31,121 shares of the technology company’s stock, valued at approximately $2,240,000.

A number of other large investors have also made changes to their positions in the stock. Sound Income Strategies LLC lifted its position in Trade Desk by 317.6% during the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after buying an additional 270 shares in the last quarter. West Oak Capital LLC increased its stake in shares of Trade Desk by 466.7% in the 2nd quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock worth $31,000 after acquiring an additional 350 shares during the last quarter. HighMark Wealth Management LLC raised its holdings in shares of Trade Desk by 46.2% during the 2nd quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock worth $34,000 after acquiring an additional 151 shares during the period. Vermillion Wealth Management Inc. boosted its position in shares of Trade Desk by 400.0% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 500 shares of the technology company’s stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Estabrook Capital Management purchased a new stake in shares of Trade Desk in the second quarter valued at about $36,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 1.9%

NASDAQ:TTD opened at $39.35 on Friday. The Trade Desk has a 52 week low of $38.22 and a 52 week high of $139.34. The stock’s fifty day moving average is $46.80 and its two-hundred day moving average is $59.87. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of 45.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million for the quarter, compared to the consensus estimate of $719.11 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,403 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $48.20, for a total value of $67,624.60. Following the completion of the transaction, the director owned 5,035 shares of the company’s stock, valued at approximately $242,687. This trade represents a 21.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TTD shares. Royal Bank Of Canada set a $80.00 target price on shares of Trade Desk and gave the stock an “outperform” rating in a research note on Friday, November 7th. Moffett Nathanson lowered shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $45.00 price target on the stock. in a research report on Friday, August 8th. Zacks Research upgraded Trade Desk from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Susquehanna cut their target price on Trade Desk from $135.00 to $85.00 and set a “positive” rating for the company in a research note on Friday, November 7th. Finally, HSBC reaffirmed a “hold” rating and issued a $56.00 price target on shares of Trade Desk in a research note on Monday, August 11th. Twenty-one equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $77.19.

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.