Assenagon Asset Management S.A. Purchases 240,192 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Assenagon Asset Management S.A. grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 342.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,429 shares of the technology company's stock after acquiring an additional 240,192 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Trade Desk worth $16,987,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its position in Trade Desk by 3.8% in the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after buying an additional 169 shares during the last quarter. Yousif Capital Management LLC lifted its position in Trade Desk by 5.4% in the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock worth $688,000 after buying an additional 300 shares during the last quarter. Focus Financial Network Inc. lifted its position in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after buying an additional 84 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Trade Desk by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 259,018 shares of the technology company's stock worth $31,442,000 after buying an additional 1,544 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Trade Desk by 17.9% in the 4th quarter. Vontobel Holding Ltd. now owns 13,020 shares of the technology company's stock worth $1,530,000 after buying an additional 1,974 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. DA Davidson dropped their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a research report on Friday, June 6th. Truist Financial lifted their price target on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Cfra Research raised Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.15.

Trade Desk Trading Down 3.7%

Trade Desk stock traded down $2.61 during mid-day trading on Friday, hitting $67.96. The company had a trading volume of 6,699,048 shares, compared to its average volume of 6,150,822. The stock's 50 day moving average price is $63.73 and its two-hundred day moving average price is $86.89. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53. The company has a market capitalization of $33.40 billion, a PE ratio of 87.13, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now directly owns 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

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.