Truist Financial Corp Purchases 9,210 Shares of The Trade Desk $TTD

Key Points

• Truist Financial Corp increased its holdings in The Trade Desk by 7.2%, acquiring an additional 9,210 shares, bringing its total to 136,622 shares valued at approximately $9.84 million.
• Multiple hedge funds have significantly raised their positions in Trade Desk recently, with Sound Income Strategies, for example, increasing its holdings by 317.6%.
• Analyst ratings for Trade Desk show a mix, with UBS lowering its target price from $105 to $80, while the overall consensus rating remains a “Moderate Buy” with an average price target of $84.94.

Truist Financial Corp grew its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,622 shares of the technology company's stock after buying an additional 9,210 shares during the quarter. Truist Financial Corp's holdings in Trade Desk were worth $9,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC raised its holdings in Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after purchasing an additional 270 shares during the period. West Oak Capital LLC raised its holdings in Trade Desk by 466.7% in the 2nd quarter. West Oak Capital LLC now owns 425 shares of the technology company's stock worth $31,000 after purchasing an additional 350 shares during the period. Banque Cantonale Vaudoise bought a new position in Trade Desk in the 1st quarter worth $26,000. Vermillion Wealth Management Inc. raised its holdings in Trade Desk by 400.0% in the 2nd quarter. Vermillion Wealth Management Inc. now owns 500 shares of the technology company's stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Trade Desk in the 1st quarter worth $27,000. 67.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group decreased their target price on Trade Desk from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Rosenblatt Securities reissued a "buy" rating on shares of Trade Desk in a report on Friday, August 8th. Moffett Nathanson cut Trade Desk from a "neutral" rating to a "sell" rating and set a $45.00 price target on the stock. in a report on Friday, August 8th. Needham & Company LLC reissued a "buy" rating and set a $84.00 price target on shares of Trade Desk in a report on Monday, September 8th. Finally, Wall Street Zen downgraded Trade Desk from a "hold" rating to a "sell" rating in a research note on Monday, September 1st. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and an average price target of $84.94.

Insider Activity

In related news, insider Jay R. Grant sold 51,290 shares of Trade Desk stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the completion of the transaction, the insider owned 218,246 shares in the company, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,403 shares of Trade Desk stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $48.20, for a total value of $67,624.60. Following the completion of the transaction, the director owned 5,035 shares of the company's stock, valued at approximately $242,687. This represents a 21.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Trade Desk Trading Up 1.3%

Shares of TTD stock opened at $51.55 on Monday. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The stock's 50-day moving average price is $57.09 and its 200-day moving average price is $62.91. The stock has a market capitalization of $25.20 billion, a price-to-earnings ratio of 62.11, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued 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). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%.The firm had revenue of $694.04 million during the quarter, compared to the consensus estimate of $686.00 million. During the same period last year, the firm posted $0.39 earnings per share. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. Trade Desk has set its Q3 2025 guidance at EPS. As a group, research analysts predict that The Trade Desk will post 1.06 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding TTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Trade Desk (NASDAQ:TTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.