Sigma Planning Corp increased its stake in Trade Desk Inc (NASDAQ:TTD) by 24.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,893 shares of the technology company’s stock after purchasing an additional 1,158 shares during the quarter. Sigma Planning Corp’s holdings in Trade Desk were worth $1,342,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Trade Desk by 1.7% in the 1st quarter. BlackRock Inc. now owns 2,466,365 shares of the technology company’s stock worth $488,215,000 after purchasing an additional 41,609 shares during the last quarter. JPMorgan Chase & Co. increased its position in Trade Desk by 6.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,290,372 shares of the technology company’s stock worth $255,429,000 after buying an additional 80,447 shares during the period. Baillie Gifford & Co. increased its position in Trade Desk by 3.8% in the 1st quarter. Baillie Gifford & Co. now owns 1,287,119 shares of the technology company’s stock worth $254,785,000 after buying an additional 47,333 shares during the period. Zevenbergen Capital Investments LLC increased its position in Trade Desk by 4.9% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 719,150 shares of the technology company’s stock worth $142,356,000 after buying an additional 33,700 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in Trade Desk by 7.8% in the 1st quarter. Artisan Partners Limited Partnership now owns 581,451 shares of the technology company’s stock worth $115,098,000 after buying an additional 42,227 shares during the period. Hedge funds and other institutional investors own 67.25% of the company’s stock.
Several research analysts have commented on TTD shares. Royal Bank of Canada lifted their price target on Trade Desk to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, August 9th. BidaskClub raised Trade Desk from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. JMP Securities downgraded Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Oppenheimer lifted their price target on Trade Desk from $210.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, DA Davidson lifted their price target on Trade Desk to $220.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Trade Desk has an average rating of “Hold” and a consensus price target of $225.67.
Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.51. The business had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Trade Desk had a return on equity of 23.63% and a net margin of 17.44%. Trade Desk’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, equities research analysts forecast that Trade Desk Inc will post 1.83 earnings per share for the current fiscal year.
In other news, CEO Jeffrey Terry Green sold 102,808 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $257.79, for a total transaction of $26,502,874.32. Following the sale, the chief executive officer now directly owns 196,200 shares in the company, valued at $50,578,398. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vivian Yang sold 7,195 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $235.19, for a total value of $1,692,192.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 245,323 shares of company stock worth $60,998,328. 17.44% of the stock is currently owned by company insiders.
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 display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
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