Parnassus Investments LLC Purchases 633,782 Shares of The Trade Desk $TTD

Key Points

• Parnassus Investments LLC increased its stake in The Trade Desk by 73.4%, acquiring an additional 633,782 shares, bringing its total ownership to approximately 1.5 million shares valued at $81.9 million.
• Several institutional investors, including GAMMA Investing LLC and Summit Financial LLC, significantly increased their holdings in The Trade Desk during the first quarter, indicating growing confidence in the company's prospects.
• The Trade Desk's most recent earnings report showed it missed earnings expectations, reporting an EPS of $0.18 against a consensus estimate of $0.42, despite revenue growth of 18.7% year-over-year.

Parnassus Investments LLC raised its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 73.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,496,796 shares of the technology company's stock after acquiring an additional 633,782 shares during the period. Parnassus Investments LLC owned approximately 0.30% of Trade Desk worth $81,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Trade Desk by 3,876.8% during the 1st quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company's stock valued at $5,033,000 after acquiring an additional 89,671 shares during the period. Dynamic Advisor Solutions LLC bought a new position in Trade Desk during the 1st quarter valued at about $995,000. Summit Financial LLC lifted its stake in Trade Desk by 282.7% during the 1st quarter. Summit Financial LLC now owns 11,740 shares of the technology company's stock valued at $642,000 after acquiring an additional 8,672 shares during the period. LBP AM SA lifted its stake in Trade Desk by 116.1% during the 1st quarter. LBP AM SA now owns 64,154 shares of the technology company's stock valued at $3,511,000 after acquiring an additional 34,465 shares during the period. Finally, Bryce Point Capital LLC lifted its stake in Trade Desk by 302.9% during the 1st quarter. Bryce Point Capital LLC now owns 16,727 shares of the technology company's stock valued at $915,000 after acquiring an additional 12,575 shares during the period. Institutional investors own 67.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on TTD shares. Citizens Jmp lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Oppenheimer upped their target price on shares of Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Bank of America reaffirmed an "underperform" rating and set a $55.00 price target (down previously from $130.00) on shares of Trade Desk in a research report on Friday, August 8th. Arete Research raised shares of Trade Desk to a "strong sell" rating in a research report on Monday, July 28th. Finally, HSBC reaffirmed a "hold" rating and set a $56.00 price target on shares of Trade Desk in a research report on Monday, August 11th. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.58.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total value of $4,676,622.20. Following the completion of the sale, the insider directly owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This represents a 19.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.00% of the company's stock.

Trade Desk Stock Up 5.1%

NASDAQ TTD opened at $55.36 on Friday. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a market capitalization of $27.07 billion, a P/E ratio of 66.70, a PEG ratio of 2.70 and a beta of 1.37. The company has a 50-day moving average price of $71.19 and a 200-day moving average price of $67.02.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.24). The firm had revenue of $694.04 million during the quarter, compared to analysts' expectations of $686.00 million. Trade Desk had a return on equity of 15.19% and a net margin of 15.57%.The company's revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. Trade Desk has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk Company 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.

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