The Trade Desk Inc. (NASDAQ:TTD) Position Boosted by Vanguard Group Inc.
Vanguard Group Inc. raised its position in shares of The Trade Desk Inc. (NASDAQ:TTD) by 149.9% during the first quarter, Holdings Channel reports. The fund owned 1,109,222 shares of the technology company’s stock after buying an additional 665,330 shares during the period. Vanguard Group Inc.’s holdings in The Trade Desk were worth $41,319,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in The Trade Desk by 33.5% in the first quarter. JPMorgan Chase & Co. now owns 709,520 shares of the technology company’s stock worth $26,431,000 after buying an additional 178,016 shares during the last quarter. State Street Corp acquired a new position in The Trade Desk during the fourth quarter worth approximately $1,581,000. Frontier Capital Management Co. LLC acquired a new position in The Trade Desk during the first quarter worth approximately $14,820,000. Cipher Capital LP acquired a new position in The Trade Desk during the first quarter worth approximately $398,000. Finally, American International Group Inc. acquired a new position in The Trade Desk during the first quarter worth approximately $126,000. 53.33% of the stock is owned by institutional investors and hedge funds.
The Trade Desk Inc. (NASDAQ:TTD) traded up 8.77% on Friday, hitting $54.45. The company’s stock had a trading volume of 3,902,404 shares. The Trade Desk Inc. has a 12 month low of $22.00 and a 12 month high of $57.87. The firm has a market cap of $2.18 billion and a price-to-earnings ratio of 50.28. The firm has a 50 day moving average of $52.38 and a 200 day moving average of $43.74.
The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The Trade Desk had a net margin of 13.92% and a return on equity of 27.88%. The firm had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.02 million. The company’s quarterly revenue was up 54.2% compared to the same quarter last year. Equities research analysts forecast that The Trade Desk Inc. will post $1.08 earnings per share for the current fiscal year.
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A number of research analysts have commented on TTD shares. Zacks Investment Research raised The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Friday, May 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Trade Desk in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $57.00 price target (up previously from $41.00) on shares of The Trade Desk in a research report on Sunday, May 14th. Finally, Cantor Fitzgerald upgraded The Trade Desk from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $56.00 in a report on Friday, May 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $55.44.
In other news, CEO Jeffrey Terry Green sold 4,515 shares of The Trade Desk stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $53.69, for a total transaction of $242,410.35. Following the completion of the sale, the chief executive officer now owns 130,885 shares of the company’s stock, valued at $7,027,215.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venture Strategies Fund I. Ia sold 3,186,017 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $50.05, for a total transaction of $159,460,150.85. The disclosure for this sale can be found here. Insiders have sold 4,939,884 shares of company stock valued at $251,049,487 in the last ninety days. Insiders own 26.87% of the company’s stock.
The Trade Desk Company Profile
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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