The Trade Desk $TTD Stock Holdings Boosted by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its position in The Trade Desk (NASDAQ:TTD) by 299.3% during the second quarter, Holdings Channel reports. The fund owned 17,080 shares of the technology company’s stock after purchasing an additional 12,802 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Trade Desk were worth $1,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TTD. Vanguard Group Inc. raised its holdings in shares of Trade Desk by 0.7% during the second quarter. Vanguard Group Inc. now owns 44,554,852 shares of the technology company’s stock valued at $3,207,504,000 after buying an additional 317,107 shares during the last quarter. Jennison Associates LLC grew its holdings in Trade Desk by 17.9% in the 2nd quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company’s stock worth $1,027,114,000 after buying an additional 2,169,252 shares in the last quarter. Geode Capital Management LLC increased its position in Trade Desk by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock valued at $884,860,000 after acquiring an additional 4,218,975 shares during the period. Nuveen LLC bought a new stake in Trade Desk during the 1st quarter valued at $191,935,000. Finally, Norges Bank bought a new stake in Trade Desk during the 2nd quarter valued at $197,362,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,403 shares of the stock in a transaction on Wednesday, September 10th. The stock was 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 in the company, valued at $242,687. This trade represents a 21.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TTD has been the subject of several recent analyst reports. Evercore ISI decreased their price target on Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Hsbc Global Res lowered shares of Trade Desk from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Scotiabank dropped their price target on shares of Trade Desk from $83.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, August 8th. Benchmark raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, November 7th. Finally, Needham & Company LLC decreased their price objective on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.19.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $40.05 on Friday. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 1.96 and a beta of 1.07. The Trade Desk has a 1-year low of $38.22 and a 1-year high of $139.34. The company has a 50 day moving average price of $46.66 and a 200 day moving average price of $59.62.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $739.43 million during the quarter, compared to the consensus estimate of $719.11 million. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. 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 approved a share repurchase plan on Thursday, November 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.