State of Alaska Department of Revenue raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,380 shares of the technology company's stock after acquiring an additional 587 shares during the period. State of Alaska Department of Revenue's holdings in Trade Desk were worth $476,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TTD. Norges Bank acquired a new stake in Trade Desk in the 4th quarter valued at about $209,903,000. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 2,288,783 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Trade Desk by 6,991.1% during the 1st quarter. American Century Companies Inc. now owns 1,739,222 shares of the technology company's stock worth $120,441,000 after buying an additional 1,714,695 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Trade Desk by 56,579.9% during the 4th quarter. 1832 Asset Management L.P. now owns 1,717,400 shares of the technology company's stock worth $161,574,000 after buying an additional 1,714,370 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Trade Desk by 45.5% during the 1st quarter. Allianz Asset Management GmbH now owns 5,482,308 shares of the technology company's stock worth $379,650,000 after buying an additional 1,714,019 shares during the last quarter. Institutional investors and hedge funds own 67.71% of the company's stock.
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Trade Desk Price Performance
Shares of NASDAQ:TTD opened at $59.75 on Monday. The company's fifty day moving average price is $60.56 and its 200 day moving average price is $56.75. The Trade Desk, Inc. has a 12 month low of $39.00 and a 12 month high of $114.09. The firm has a market capitalization of $28.97 billion, a P/E ratio of 853.69, a P/E/G ratio of 12.06 and a beta of 1.94.
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 the consensus estimate of $0.02 by ($0.06). Trade Desk had a return on equity of 2.16% and a net
margin of 2.43%. The company had revenue of $376.96 million for the quarter, compared to analyst estimates of $365.20 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Trade Desk's revenue was up 34.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.21 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on TTD shares. Wolfe Research started coverage on shares of Trade Desk in a report on Tuesday, August 16th. They set a "market perform" rating for the company. KeyCorp increased their price objective 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. Royal Bank of Canada lowered their price objective on shares of Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. 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 research report on Wednesday, August 10th. Finally, 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 research report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.
Insider Buying and Selling
In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of Trade Desk stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.50, for a total transaction of $266,510.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.79% of the stock is owned by company insiders.
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.
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