Cambridge Investment Research Advisors Inc. reduced its position in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,374 shares of the technology company's stock after selling 11,292 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Trade Desk were worth $5,252,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Trade Desk in the fourth quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. bought a new position in Trade Desk in the first quarter worth about $42,000. San Luis Wealth Advisors LLC bought a new position in Trade Desk in the first quarter worth about $42,000. Clearstead Advisors LLC raised its holdings in Trade Desk by 49.0% in the fourth quarter. Clearstead Advisors LLC now owns 468 shares of the technology company's stock worth $43,000 after purchasing an additional 154 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in Trade Desk in the first quarter worth about $47,000. 67.71% of the stock is currently owned by institutional investors.
Get Trade Desk alerts:Insider Activity at Trade Desk
In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 197,858 shares of the company's stock, valued at approximately $14,344,705. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.79% of the stock is owned by corporate insiders.
Trade Desk Price Performance
Shares of NASDAQ:TTD opened at $57.70 on Monday. The Trade Desk, Inc. has a 1 year low of $39.00 and a 1 year high of $114.09. The firm has a market capitalization of $27.97 billion, a price-to-earnings ratio of 824.40, a price-to-earnings-growth ratio of 11.45 and a beta of 1.94. The business's 50 day moving average price is $59.31 and its 200-day moving average price is $56.67.Trade Desk (NASDAQ:TTD – Get Rating) last announced its earnings results 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). Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. The business had revenue of $376.96 million for the quarter, compared to analysts' expectations of $365.20 million. During the same quarter last year, the business earned $0.10 EPS. The company's quarterly revenue was up 34.6% on a year-over-year basis. On average, sell-side analysts expect that The Trade Desk, Inc. will post 0.21 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. DA Davidson boosted their target price 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. KeyCorp upped their price objective on shares of 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 cut their price objective on shares of Trade Desk from $85.00 to $75.00 in a report on Thursday, August 4th. Needham & Company LLC upped their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 10th. Finally, Jefferies Financial Group cut their price objective on shares of Trade Desk from $75.00 to $65.00 in a report on Thursday, August 4th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and a consensus target price of $84.24.
About Trade Desk
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Trade Desk (TTD)
- Can Caterpillar Claw Higher in a Falling Market?
- Is Dave & Buster's Immune to High Inflation and Lower Spending?
- Should These 3 Top-Performing Mid-Caps Be On Your Watchlist?
- Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
- MarketBeat: Week in Review 9/19 – 9/23
Receive News & Ratings for Trade Desk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trade Desk and related companies with MarketBeat.com's FREE daily email newsletter.