Concorde Asset Management LLC Purchases New Position in Trade Desk Inc (NASDAQ:TTD)

Concorde Asset Management LLC purchased a new stake in Trade Desk Inc (NASDAQ:TTD) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,367 shares of the technology company’s stock, valued at approximately $1,747,000. Trade Desk makes up about 1.0% of Concorde Asset Management LLC’s investment portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTD. Spearhead Capital Advisors LLC grew its stake in shares of Trade Desk by 5.0% during the third quarter. Spearhead Capital Advisors LLC now owns 836 shares of the technology company’s stock valued at $434,000 after acquiring an additional 40 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Trade Desk by 105.1% during the second quarter. Larson Financial Group LLC now owns 80 shares of the technology company’s stock valued at $33,000 after acquiring an additional 41 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Trade Desk by 29.3% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 181 shares of the technology company’s stock valued at $74,000 after acquiring an additional 41 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Trade Desk by 15.9% during the second quarter. Orion Portfolio Solutions LLC now owns 320 shares of the technology company’s stock worth $130,000 after purchasing an additional 44 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its position in shares of Trade Desk by 0.8% during the third quarter. Ascent Wealth Partners LLC now owns 5,769 shares of the technology company’s stock worth $2,993,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 71.70% of the company’s stock.

In other Trade Desk news, CFO Blake Jeffrey Grayson sold 83 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $477.50, for a total value of $39,632.50. Following the sale, the chief financial officer now owns 23,165 shares in the company, valued at $11,061,287.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Susan Vobejda sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $456.00, for a total transaction of $565,440.00. Following the completion of the sale, the chief marketing officer now owns 36,519 shares in the company, valued at approximately $16,652,664. The disclosure for this sale can be found here. Insiders sold 5,789 shares of company stock worth $2,875,645 in the last 90 days. 13.12% of the stock is owned by company insiders.

Several brokerages have recently commented on TTD. DA Davidson increased their price target on shares of Trade Desk from $300.00 to $490.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Stifel Nicolaus increased their price target on shares of Trade Desk from $210.00 to $400.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Citigroup increased their price target on shares of Trade Desk from $320.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Needham & Company LLC increased their price target on shares of Trade Desk from $580.00 to $750.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Finally, Stephens cut shares of Trade Desk from an “overweight” rating to an “equal weight” rating and set a $470.00 price target on the stock. in a research report on Friday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Trade Desk currently has an average rating of “Hold” and a consensus price target of $447.07.

NASDAQ TTD traded down $10.90 during trading hours on Monday, reaching $609.01. The company’s stock had a trading volume of 14,436 shares, compared to its average volume of 1,717,026. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $516.21 and a 200 day simple moving average of $407.11. Trade Desk Inc has a 52 week low of $136.00 and a 52 week high of $675.00. The stock has a market cap of $28.98 billion, a PE ratio of 249.96, a PEG ratio of 17.52 and a beta of 2.44.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 6th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.91. Trade Desk had a net margin of 17.57% and a return on equity of 18.10%. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $133.03 million. During the same quarter last year, the company posted $0.95 earnings per share. Trade Desk’s revenue was down 12.8% on a year-over-year basis. As a group, equities analysts predict that Trade Desk Inc will post 1.41 EPS for the current year.

About Trade Desk

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

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Institutional Ownership by Quarter for Trade Desk (NASDAQ:TTD)

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