Lisanti Capital Growth LLC acquired a new stake in shares of Trade Desk Inc (NASDAQ:TTD) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 8,215 shares of the technology company’s stock, valued at approximately $1,240,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Trade Desk during the third quarter valued at approximately $177,000. US Bancorp DE increased its holdings in shares of Trade Desk by 136.6% during the third quarter. US Bancorp DE now owns 1,356 shares of the technology company’s stock valued at $204,000 after acquiring an additional 783 shares in the last quarter. GWM Advisors LLC bought a new stake in shares of Trade Desk during the third quarter valued at approximately $219,000. CIBC Asset Management Inc bought a new stake in shares of Trade Desk during the third quarter valued at approximately $227,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Trade Desk during the second quarter valued at approximately $147,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.
In other Trade Desk news, insider Brian John Stempeck sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $126.94, for a total value of $3,808,200.00. Following the transaction, the insider now owns 75,020 shares of the company’s stock, valued at $9,523,038.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul Ross sold 7,174 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $128.99, for a total value of $925,374.26. Following the completion of the transaction, the chief financial officer now directly owns 46,360 shares in the company, valued at approximately $5,979,976.40. The disclosure for this sale can be found here. In the last three months, insiders sold 640,974 shares of company stock worth $86,922,757. Insiders own 26.87% of the company’s stock.
Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.06). Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The business had revenue of $118.80 million during the quarter, compared to analysts’ expectations of $117.48 million. During the same period in the prior year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 49.6% on a year-over-year basis. As a group, equities analysts expect that Trade Desk Inc will post 1.44 EPS for the current year.
TTD has been the topic of several analyst reports. BidaskClub cut Trade Desk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Royal Bank of Canada lifted their target price on Trade Desk from $80.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Wells Fargo & Co reaffirmed a “hold” rating and set a $110.00 target price on shares of Trade Desk in a research report on Friday, August 10th. Macquarie raised Trade Desk to a “buy” rating and lifted their target price for the company from $95.00 to $130.00 in a research report on Friday, August 10th. Finally, Citigroup lifted their target price on Trade Desk from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Trade Desk presently has a consensus rating of “Buy” and a consensus target price of $118.53.
Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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