National Asset Management Inc. grew its position in Trade Desk Inc (NASDAQ:TTD) by 64.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,942 shares of the technology company’s stock after acquiring an additional 1,945 shares during the quarter. National Asset Management Inc.’s holdings in Trade Desk were worth $955,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in shares of Trade Desk by 2.0% in the 4th quarter. Baillie Gifford & Co. now owns 2,787,125 shares of the technology company’s stock worth $724,039,000 after acquiring an additional 53,738 shares during the period. Jennison Associates LLC lifted its position in shares of Trade Desk by 139.1% during the 1st quarter. Jennison Associates LLC now owns 1,841,567 shares of the technology company’s stock worth $355,422,000 after buying an additional 1,071,508 shares during the period. State Street Corp lifted its position in shares of Trade Desk by 2.6% during the 4th quarter. State Street Corp now owns 505,032 shares of the technology company’s stock worth $131,197,000 after buying an additional 12,589 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Trade Desk by 109.1% during the 4th quarter. Nuveen Asset Management LLC now owns 468,669 shares of the technology company’s stock worth $121,750,000 after buying an additional 244,577 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Trade Desk by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 439,472 shares of the technology company’s stock worth $114,166,000 after buying an additional 7,217 shares during the period. Institutional investors own 68.77% of the company’s stock.
Shares of NASDAQ TTD traded up $3.18 during midday trading on Friday, hitting $307.60. The stock had a trading volume of 1,559,719 shares, compared to its average volume of 2,406,261. The company’s 50-day simple moving average is $253.57 and its 200 day simple moving average is $253.40. The firm has a market cap of $14.02 billion, a P/E ratio of 122.75, a price-to-earnings-growth ratio of 6.27 and a beta of 2.69. Trade Desk Inc has a fifty-two week low of $136.00 and a fifty-two week high of $327.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.96 and a quick ratio of 1.96.
Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 7th. The technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.81. The company had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $158.10 million. Trade Desk had a return on equity of 20.65% and a net margin of 17.44%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. Equities analysts expect that Trade Desk Inc will post 1.94 EPS for the current fiscal year.
In related news, Director Thomas Falk sold 28,825 shares of Trade Desk stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $280.22, for a total transaction of $8,077,341.50. Following the completion of the sale, the director now directly owns 10,640 shares of the company’s stock, valued at $2,981,540.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Susan Vobejda sold 511 shares of Trade Desk stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $305.00, for a total value of $155,855.00. Following the sale, the chief marketing officer now directly owns 35,644 shares of the company’s stock, valued at $10,871,420. The disclosure for this sale can be found here. Insiders sold a total of 407,781 shares of company stock valued at $120,285,565 over the last three months. Insiders own 13.12% of the company’s stock.
Several equities analysts recently commented on the company. Royal Bank of Canada downgraded Trade Desk from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $225.00 to $300.00 in a research report on Friday, May 8th. Rosenblatt Securities raised their target price on Trade Desk from $171.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. DA Davidson downgraded Trade Desk from a “buy” rating to a “neutral” rating and cut their target price for the stock from $310.00 to $300.00 in a research report on Monday, May 11th. Zacks Investment Research raised Trade Desk from a “hold” rating to a “buy” rating and set a $333.00 price target for the company in a report on Saturday, May 16th. Finally, BidaskClub raised Trade Desk from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $282.07.
Trade Desk 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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