Lincoln National Corp Raises Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Lincoln National Corp raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1,272.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 21,743 shares of the technology company’s stock after acquiring an additional 20,159 shares during the quarter. Lincoln National Corp’s holdings in The Trade Desk were worth $1,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTD. Baillie Gifford & Co. increased its position in shares of The Trade Desk by 1,172.2% during the second quarter. Baillie Gifford & Co. now owns 52,534,783 shares of the technology company’s stock worth $4,064,091,000 after purchasing an additional 48,405,217 shares in the last quarter. Vanguard Group Inc. increased its position in The Trade Desk by 910.5% during the 2nd quarter. Vanguard Group Inc. now owns 39,250,988 shares of the technology company’s stock valued at $3,036,456,000 after buying an additional 35,366,839 shares in the last quarter. BlackRock Inc. raised its stake in The Trade Desk by 797.5% in the second quarter. BlackRock Inc. now owns 22,896,162 shares of the technology company’s stock valued at $1,771,246,000 after buying an additional 20,345,148 shares during the last quarter. Jennison Associates LLC raised its position in shares of The Trade Desk by 553.9% in the 2nd quarter. Jennison Associates LLC now owns 14,098,956 shares of the technology company’s stock valued at $1,090,695,000 after purchasing an additional 11,942,743 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in The Trade Desk by 938.3% in the 2nd quarter. Geode Capital Management LLC now owns 5,395,526 shares of the technology company’s stock worth $416,787,000 after purchasing an additional 4,875,867 shares in the last quarter. 59.30% of the stock is currently owned by institutional investors and hedge funds.

TTD stock opened at $75.72 on Thursday. The Trade Desk, Inc. has a 12-month low of $46.71 and a 12-month high of $97.28. The business’s 50-day moving average is $75.71 and its 200 day moving average is $74.17. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 141.80, a PEG ratio of 7.66 and a beta of 2.48.

The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Monday, August 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. The Trade Desk had a return on equity of 25.01% and a net margin of 25.44%. The firm had revenue of $279.97 million for the quarter, compared to analyst estimates of $262.82 million. During the same period in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 100.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 0.41 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Stephens boosted their price objective on shares of The Trade Desk from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, August 10th. Citigroup increased their price objective on The Trade Desk from $60.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, August 17th. Evercore ISI upgraded The Trade Desk to an “outperform” rating and raised their price objective for the stock from $70.00 to $95.00 in a research note on Thursday, July 8th. Truist Securities upped their target price on The Trade Desk from $62.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, August 10th. Finally, Oppenheimer increased their price target on shares of The Trade Desk from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, August 9th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Trade Desk presently has a consensus rating of “Buy” and an average price target of $87.77.

In other news, CFO Blake Jeffrey Grayson sold 16,609 shares of The Trade Desk stock in a transaction on Friday, October 1st. The stock was sold at an average price of $70.03, for a total transaction of $1,163,128.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric B. Paley sold 3,634 shares of The Trade Desk stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $80.30, for a total transaction of $291,810.20. The disclosure for this sale can be found here. Insiders have sold 60,247 shares of company stock valued at $4,344,322 in the last ninety days. Insiders own 10.72% of the company’s stock.

The Trade Desk Company Profile

The Trade Desk, Inc offers a technology platform for advertising buyers. It operates through United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.

Further Reading: When can a hold rating present a buying opportunity?

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, Inc. (NASDAQ:TTD).

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

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