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Scout Investments Inc. Purchases New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Defense World ·  Sep 26, 2022 06:31

Scout Investments Inc. acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 99,443 shares of the technology company's stock, valued at approximately $4,166,000.

Several other institutional investors also recently bought and sold shares of TTD. Norges Bank acquired a new stake in Trade Desk in the fourth quarter valued at approximately $209,903,000. JPMorgan Chase & Co. grew its holdings in Trade Desk by 38.8% in the first 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 during the period. American Century Companies Inc. grew its holdings in Trade Desk by 6,991.1% in the first 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 during the period. 1832 Asset Management L.P. boosted its stake in shares of Trade Desk by 56,579.9% in the fourth quarter. 1832 Asset Management L.P. now owns 1,717,400 shares of the technology company's stock worth $161,574,000 after acquiring an additional 1,714,370 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Trade Desk by 45.5% in 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 last quarter. 67.71% of the stock is owned by institutional investors and hedge funds.

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Trade Desk Stock Down 2.6 %

NASDAQ:TTD opened at $57.70 on Monday. The Trade Desk, Inc. has a 52 week low of $39.00 and a 52 week high of $114.09. The company has a market capitalization of $27.97 billion, a P/E ratio of 824.40, a P/E/G ratio of 11.45 and a beta of 1.94. The stock's fifty day moving average is $59.31 and its two-hundred day moving average is $56.67.

Trade Desk (NASDAQ:TTD – Get Rating) last posted its 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 business had revenue of $376.96 million during the quarter, compared to analysts' expectations of $365.20 million. Trade Desk had a net margin of 2.43% and a return on equity of 2.16%. Trade Desk's revenue for the quarter was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Sell-side analysts anticipate that The Trade Desk, Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp lifted their price target on Trade Desk from $52.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 10th. Royal Bank of Canada lowered their price target on Trade Desk from $85.00 to $75.00 in a research note on Thursday, August 4th. DA Davidson lifted their price target on Trade Desk from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, August 10th. Jefferies Financial Group lowered their price target on Trade Desk from $75.00 to $65.00 in a research note on Thursday, August 4th. Finally, Evercore ISI lifted their price target on Trade Desk to $75.00 in a research note on Monday, August 15th. Six research 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, Trade Desk currently has an average rating of "Moderate Buy" and a consensus price target of $84.24.

Insider Activity at Trade Desk

In related news, CFO Blake Jeffrey Grayson sold 3,676 shares of the business's 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 sale, the chief financial officer now owns 197,858 shares in the company, valued at approximately $14,344,705. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.79% of the company's stock.

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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