AdvisorNet Financial Inc raised its position in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 11.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,638 shares of the technology company’s stock after purchasing an additional 1,120 shares during the period. AdvisorNet Financial Inc’s holdings in Trade Desk were worth $446,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Trade Desk by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 39,911,814 shares of the technology company’s stock worth $2,763,893,000 after purchasing an additional 263,838 shares during the last quarter. BlackRock Inc. raised its position in shares of Trade Desk by 1.5% in the 1st quarter. BlackRock Inc. now owns 22,905,746 shares of the technology company’s stock worth $1,586,220,000 after purchasing an additional 328,332 shares during the last quarter. State Street Corp raised its position in shares of Trade Desk by 1.0% in the 4th quarter. State Street Corp now owns 9,307,703 shares of the technology company’s stock worth $852,958,000 after purchasing an additional 94,266 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Trade Desk by 38.8% in the 1st quarter. JPMorgan Chase & Co. now owns 8,180,680 shares of the technology company’s stock worth $566,514,000 after purchasing an additional 2,288,783 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Trade Desk by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,579,548 shares of the technology company’s stock worth $510,603,000 after purchasing an additional 252,914 shares during the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on TTD. DA Davidson lifted their price target on Trade Desk from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Wolfe Research began coverage on Trade Desk in a research report on Tuesday, August 16th. They issued a “market perform” rating for the company. Royal Bank of Canada decreased their target price on Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. Jefferies Financial Group decreased their target price on Trade Desk from $75.00 to $65.00 in a research report on Thursday, August 4th. Finally, Needham & Company LLC boosted their target price on Trade Desk from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.24.
Trade Desk Stock Down 1.4 %
Trade Desk (NASDAQ:TTD – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $376.96 million for the quarter, compared to the consensus estimate of $365.20 million. Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Research analysts anticipate that The Trade Desk, Inc. will post 0.21 EPS for the current fiscal year.
Insider Activity at Trade Desk
In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $72.50, for a total transaction of $266,510.00. Following the completion of the transaction, the chief financial officer now directly owns 197,858 shares in the company, valued at approximately $14,344,705. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 10.79% of the stock is currently owned by corporate insiders.
About Trade Desk
Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.
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