Orion Capital Management LLC trimmed its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 60.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,830 shares of the technology company's stock after selling 41,210 shares during the quarter. Orion Capital Management LLC's holdings in Trade Desk were worth $1,124,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TTD. Guggenheim Capital LLC raised its holdings in shares of Trade Desk by 401.4% during the fourth quarter. Guggenheim Capital LLC now owns 52,715 shares of the technology company's stock worth $4,831,000 after purchasing an additional 42,202 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Trade Desk during the fourth quarter worth $27,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Trade Desk by 74.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 77,408 shares of the technology company's stock worth $7,094,000 after purchasing an additional 32,965 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Trade Desk by 144.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,800 shares of the technology company's stock worth $532,000 after purchasing an additional 3,424 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Trade Desk by 7.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 92,752 shares of the technology company's stock worth $8,500,000 after purchasing an additional 6,596 shares during the period. 67.71% of the stock is currently owned by institutional investors.
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Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. KeyCorp increased their target price on shares of Trade Desk from $52.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, August 10th. Oppenheimer increased their price objective on shares of Trade Desk from $60.00 to $78.00 and gave the stock an "outperform" rating in a report on Wednesday, August 10th. Needham & Company LLC increased their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 10th. DA Davidson increased their price objective on shares of Trade Desk from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, August 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Trade Desk from $85.00 to $75.00 in a report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.
Trade Desk Price Performance
TTD traded down $1.05 during midday trading on Friday, hitting $59.75. 10,174,465 shares of the company's stock traded hands, compared to its average volume of 4,089,370. The company has a market cap of $28.97 billion, a PE ratio of 853.69, a price-to-earnings-growth ratio of 12.06 and a beta of 1.94. The stock's fifty day simple moving average is $60.56 and its 200-day simple moving average is $56.84. 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 released 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). Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The firm had revenue of $376.96 million during the quarter, compared to the consensus estimate of $365.20 million. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was up 34.6% compared to the same quarter last year. On average, research analysts expect that The Trade Desk, Inc. will post 0.21 EPS for the current year.
Insider Activity
In other news, CFO Blake Jeffrey Grayson sold 3,676 shares of Trade Desk stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $72.50, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.79% of the company's stock.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Trade Desk (TTD)
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