Eastern Bank Purchases New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Eastern Bank acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,783 shares of the technology company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. boosted its stake in shares of 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 purchasing an additional 163 shares in the last quarter. Riverview Trust Co bought a new stake in Trade Desk during the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in Trade Desk in the 2nd quarter valued at approximately $30,000. EdgeRock Capital LLC bought a new position in shares of Trade Desk during the second quarter valued at $37,000. Finally, Quarry LP acquired a new position in shares of Trade Desk during the second quarter worth $41,000. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Truist Financial lifted their price objective on Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC increased their target price on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Bank of America initiated coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.97.

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 3,130 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the sale, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at approximately $68,930,351.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the company’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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.33, for a total value of $310,902.90. Following the sale, the chief financial officer now owns 693,953 shares in the company, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock valued at $170,121,565 over the last 90 days. Insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 1.5 %

Trade Desk stock opened at $117.17 on Thursday. The firm’s fifty day moving average price is $108.37 and its two-hundred day moving average price is $97.88. The firm has a market capitalization of $57.60 billion, a price-to-earnings ratio of 234.34, a price-to-earnings-growth ratio of 5.72 and a beta of 1.48. The Trade Desk, Inc. has a 1-year low of $60.23 and a 1-year high of $120.78.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. On average, research analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Trade Desk 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.