The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Mattern Wealth Management LLC

by · The Markets Daily

Mattern Wealth Management LLC trimmed its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,320 shares of the technology company’s stock after selling 250 shares during the quarter. Mattern Wealth Management LLC’s holdings in Trade Desk were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1832 Asset Management L.P. bought a new position in Trade Desk during the first quarter valued at about $225,710,000. Marshall Wace LLP grew its stake in shares of Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Trade Desk by 3,973.6% in the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after purchasing an additional 437,967 shares in the last quarter. Steadfast Capital Management LP lifted its stake in Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after purchasing an additional 431,600 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Trade Desk by 133.2% during the first quarter. BNP Paribas Financial Markets now owns 613,622 shares of the technology company’s stock valued at $53,643,000 after purchasing an additional 350,495 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price target on Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 14th. Morgan Stanley boosted 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. Citigroup lifted their price target on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BTIG Research boosted their target price on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $112.97.

Get Our Latest Stock Report on Trade Desk

Insider Transactions at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the sale, the chief financial officer now owns 693,953 shares in the company, valued at approximately $80,102,994.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,542 shares of company stock worth $169,961,824 over the last three months. 9.72% of the stock is currently owned by insiders.

Trade Desk Trading Down 0.1 %

TTD traded down $0.17 during trading on Tuesday, hitting $118.04. The stock had a trading volume of 424,790 shares, compared to its average volume of 3,787,023. The firm has a market cap of $58.03 billion, a PE ratio of 236.78, a P/E/G ratio of 5.72 and a beta of 1.48. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $119.50. The company has a 50 day simple moving average of $107.58 and a 200-day simple moving average of $97.52.

Trade Desk (NASDAQ:TTD – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping 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 business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the company posted $0.07 earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

About Trade Desk

(Free Report)

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.

Further Reading

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