Allianz Asset Management GmbH lowered its position in shares of Trade Desk Inc (NASDAQ:TTD) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,396,163 shares of the technology company’s stock after selling 81,990 shares during the quarter. Allianz Asset Management GmbH owned about 3.42% of Trade Desk worth $85,878,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. purchased a new stake in shares of Trade Desk in the first quarter valued at approximately $126,000. TIAA CREF Investment Management LLC lifted its holdings in Trade Desk by 18.1% in the first quarter. TIAA CREF Investment Management LLC now owns 19,822 shares of the technology company’s stock valued at $738,000 after acquiring an additional 3,033 shares during the last quarter. Vanguard Group Inc. lifted its stake in Trade Desk by 149.9% during the first quarter. Vanguard Group Inc. now owns 1,109,222 shares of the technology company’s stock worth $41,319,000 after purchasing an additional 665,330 shares in the last quarter. Geode Capital Management LLC lifted its stake in Trade Desk by 56.3% during the first quarter. Geode Capital Management LLC now owns 85,761 shares of the technology company’s stock worth $3,194,000 after purchasing an additional 30,879 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Trade Desk during the second quarter worth $401,000. 65.46% of the stock is owned by institutional investors.
Shares of Trade Desk Inc (TTD) opened at $45.07 on Wednesday. Trade Desk Inc has a 12 month low of $26.08 and a 12 month high of $67.30. The stock has a market cap of $1,860.00 and a price-to-earnings ratio of 46.15. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.
Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.15. Trade Desk had a net margin of 15.93% and a return on equity of 24.34%. The company had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $76.84 million. During the same period in the previous year, the company earned $0.24 EPS. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. sell-side analysts predict that Trade Desk Inc will post 1.29 earnings per share for the current fiscal year.
In other news, CEO Jeffrey Terry Green sold 9,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.26, for a total value of $596,340.00. Following the completion of the sale, the chief executive officer now owns 99,400 shares of the company’s stock, valued at approximately $6,586,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Ross sold 3,705 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $63.33, for a total transaction of $234,637.65. Following the completion of the sale, the chief financial officer now directly owns 53,451 shares of the company’s stock, valued at approximately $3,385,051.83. The disclosure for this sale can be found here. Insiders have sold a total of 151,894 shares of company stock worth $9,180,577 in the last 90 days. Company insiders own 26.87% of the company’s stock.
Several brokerages have issued reports on TTD. Susquehanna Bancshares reaffirmed a “positive” rating and set a $66.00 price objective on shares of Trade Desk in a report on Thursday, September 7th. Jefferies Group reiterated a “buy” rating and set a $60.00 target price (up previously from $57.00) on shares of Trade Desk in a research note on Friday, August 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price (up previously from $56.00) on shares of Trade Desk in a research note on Friday, August 11th. Vetr upgraded shares of Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.92 target price for the company in a research note on Tuesday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $62.00 target price (up previously from $56.00) on shares of Trade Desk in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.07.
About Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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