DnB Asset Management AS boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 71,920 shares of the technology company's stock after acquiring an additional 1,889 shares during the quarter. DnB Asset Management AS's holdings in Trade Desk were worth $3,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Trade Desk in the 4th quarter valued at $209,903,000. JPMorgan Chase & Co. boosted its stake 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 valued at $566,514,000 after purchasing an additional 2,288,783 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Trade Desk by 6,991.1% in the 1st quarter. American Century Companies Inc. now owns 1,739,222 shares of the technology company's stock valued at $120,441,000 after purchasing an additional 1,714,695 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Trade Desk by 56,579.9% in the 4th quarter. 1832 Asset Management L.P. now owns 1,717,400 shares of the technology company's stock valued at $161,574,000 after purchasing an additional 1,714,370 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Trade Desk by 45.5% in the 1st quarter. Allianz Asset Management GmbH now owns 5,482,308 shares of the technology company's stock valued at $379,650,000 after purchasing an additional 1,714,019 shares in the last quarter. Institutional investors and hedge funds own 67.71% of the company's stock.
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Insider Activity
In other news, CFO Blake Jeffrey Grayson sold 3,676 shares of the company's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $72.50, for a total value of $266,510.00. Following the completion of the sale, the chief financial officer now directly owns 197,858 shares of the company's stock, valued at approximately $14,344,705. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.79% of the stock is currently owned by company insiders.
Trade Desk Price Performance
Shares of TTD stock opened at $61.57 on Wednesday. The stock has a market cap of $29.85 billion, a PE ratio of 879.70, a price-to-earnings-growth ratio of 12.51 and a beta of 1.94. The stock has a 50-day moving average of $58.31 and a 200-day moving average of $56.83. The Trade Desk, Inc. has a one year low of $39.00 and a one year high of $114.09.
Trade Desk (NASDAQ:TTD – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The technology company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The company had revenue of $376.96 million during 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 business's revenue was up 34.6% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts anticipate that The Trade Desk, Inc. will post 0.21 earnings per share for the current year.
Wall Street Analysts Forecast Growth
TTD has been the topic of several research reports. Jefferies Financial Group reduced their price target on shares of Trade Desk from $75.00 to $65.00 in a research report on Thursday, August 4th. Evercore ISI upped their price target on shares of Trade Desk to $75.00 in a research report on Monday, August 15th. Royal Bank of Canada reduced their price target on shares of Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. KeyCorp upped their price target on shares of Trade Desk from $52.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 10th. Finally, Needham & Company LLC upped their price target on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $84.24.
About Trade Desk
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Trade Desk (TTD)
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