TCW Group Inc. decreased its position in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 18.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,843,854 shares of the technology company's stock after selling 417,794 shares during the period. Trade Desk makes up about 1.0% of TCW Group Inc.'s portfolio, making the stock its 26th biggest holding. TCW Group Inc. owned about 0.38% of Trade Desk worth $77,239,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Trade Desk by 0.7% during the first 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 stake in shares of Trade Desk by 1.5% during the 1st quarter. BlackRock Inc. now owns 22,905,746 shares of the technology company's stock valued at $1,586,220,000 after buying an additional 328,332 shares during the last quarter. State Street Corp lifted its holdings 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 valued at $852,958,000 after buying an additional 94,266 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Trade Desk by 38.8% in the first quarter. JPMorgan Chase & Co. now owns 8,180,680 shares of the technology company's stock worth $566,514,000 after buying an additional 2,288,783 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Trade Desk by 45.5% during the first quarter. Allianz Asset Management GmbH now owns 5,482,308 shares of the technology company's stock worth $379,650,000 after acquiring an additional 1,714,019 shares during the period. Institutional investors and hedge funds own 67.71% of the company's stock.
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Insider Buying and Selling at Trade Desk
In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 197,858 shares of the company's stock, valued at $14,344,705. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.79% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Trade Desk from $75.00 to $65.00 in a research report on Thursday, August 4th. KeyCorp raised their price objective on Trade Desk from $52.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, August 10th. Royal Bank of Canada reduced their target price on Trade Desk from $85.00 to $75.00 in a research note on Thursday, August 4th. Evercore ISI increased their price objective on shares of Trade Desk to $75.00 in a report on Monday, August 15th. Finally, Oppenheimer upped their price target on shares of Trade Desk from $60.00 to $78.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.24.
Trade Desk Stock Performance
NASDAQ TTD traded up $2.71 on Wednesday, reaching $62.05. The stock had a trading volume of 70,704 shares, compared to its average volume of 4,051,190. The stock has a market cap of $30.08 billion, a P/E ratio of 847.84, a price-to-earnings-growth ratio of 11.40 and a beta of 1.94. The Trade Desk, Inc. has a 12-month low of $39.00 and a 12-month high of $114.09. The business's 50-day moving average price is $59.86 and its 200 day moving average price is $56.69.
Trade Desk (NASDAQ:TTD – Get Rating) last announced its earnings results on Tuesday, August 9th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The company had revenue of $376.96 million during the quarter, compared to analysts' expectations of $365.20 million. During the same quarter last year, the business posted $0.10 earnings per share. The company's revenue for the quarter was up 34.6% compared to the same quarter last year. On average, sell-side analysts predict that The Trade Desk, Inc. will post 0.21 earnings per share for the current year.
Trade Desk Company Profile
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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.
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