Russell Investments Group Ltd. increased its stake in shares of The Trade Desk, Inc. (NASDAQ: TTD – Get Rating) by 39.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 182,084 shares of the technology company after acquiring an additional 51,878 shares during the quarter. The holdings of Russell Investments Group Ltd. in Trade Desk were worth $12,789,000 at the end of the most recent period.
Several other hedge funds and other institutional investors also bought and sold shares of TTD. Allspring Global Investments Holdings LLC purchased a new stake in Trade Desk during Q4, valued at $14,645,000. Yousif Capital Management LLC acquired a new stake in Trade Desk stock in Q4 worth $560,000. CWM LLC acquired a new stake in Trade Desk stock in Q4 worth $535,000. Assenagon Asset Management SA acquired a new equity stake in Trade Desk in the 4th quarter at a value of $231,000. Finally, Emerald Advisers LLC acquired a new equity stake in Trade Desk in Q4 worth $493,000. Institutional investors hold 63.40% of the company’s shares.
Commercial office inventory up 4.6%
NASDAQ:TTD opened at $52.78 on Friday. The Trade Desk, Inc. has a 52 week low of $39.00 and a 52 week high of $114.09. The stock has a market capitalization of $25.59 billion, a PE ratio of 251.33, a growth price-earnings ratio of 7.44 and a beta of 2.09. The stock’s 50-day moving average price is $47.16 and its 200-day moving average price is $58.98.
Trade Desk (NASDAQ:TTD – Get Rating) last released its results on Tuesday, May 10. The tech company reported ($0.03) EPS for the quarter, beating analyst consensus estimates of ($0.04) by $0.01. Trade Desk achieved a return on equity of 7.08% and a net margin of 7.78%. The company posted revenue of $315.32 million for the quarter, compared to $304.28 million expected by analysts. During the same period last year, the company achieved EPS of $0.05. The company’s quarterly revenue increased 43.5% year over year. Sell-side analysts expect The Trade Desk, Inc. to post earnings per share of 0.28 for the current fiscal year.
In other news, manager David B. Wells acquired 17,500 shares in a deal that took place on Wednesday, May 25. The shares were purchased at an average cost of $45.81 per share, for a total transaction of $801,675.00. Following the acquisition, the administrator now owns 106,570 shares of the company, valued at approximately $4,881,971.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 10.79% of the shares of the company.
Changes to analyst ratings
A number of research companies have weighed in on TTD recently. Evercore ISI lowered its Trade Desk price target from $55.00 to $50.00 and set an “outperform” rating for the company in a Thursday, July 7 research report. Royal Bank of Canada lowered its price target on Trade Desk from $85.00 to $75.00 in a research report on Thursday. Oppenheimer lowered his Trade Desk price target from $90.00 to $60.00 in a Wednesday, May 11 research report. Jefferies Financial Group cut its Trade Desk target price from $75.00 to $65.00 in a research note on Thursday. Finally, Stifel Nicolaus upgraded Trade Desk from a “hold” rating to a “buy” rating and raised its stock price target from $50.00 to $80.00 in a Monday research note May 16. Five research analysts gave the stock a hold rating and fifteen gave the stock a buy rating. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.29.
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Trade Desk, Inc operates as a technology company in the United States and internationally. The Company operates a cloud-based, self-service platform that enables marketers to create, manage and optimize data-driven digital advertising campaigns across various advertising formats and channels, including display, video, digital, and digital advertising. audio, native and social media on various devices, such as computers, mobile devices and connected TV.
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