Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Trade Desk Inc (NASDAQ:TTD) by 179.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,771 shares of the technology company’s stock after purchasing an additional 5,632 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trade Desk were worth $3,565,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Asset Management Inc. TX lifted its holdings in Trade Desk by 0.6% during the second quarter. Cypress Asset Management Inc. TX now owns 8,595 shares of the technology company’s stock valued at $3,494,000 after purchasing an additional 55 shares in the last quarter. JustInvest LLC purchased a new position in shares of Trade Desk during the 2nd quarter valued at $336,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Trade Desk by 59.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,441 shares of the technology company’s stock worth $6,683,000 after buying an additional 6,143 shares during the period. Mathes Company Inc. purchased a new stake in Trade Desk in the 2nd quarter worth $285,000. Finally, Calamos Advisors LLC bought a new stake in Trade Desk during the second quarter valued at about $2,299,000. Institutional investors and hedge funds own 69.22% of the company’s stock.
In other Trade Desk news, insider Vivian Yang sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $274.22, for a total transaction of $933,719.10. Following the completion of the transaction, the insider now owns 29,998 shares in the company, valued at $8,226,051.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian John Stempeck sold 18,284 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $353.75, for a total value of $6,467,965.00. Following the transaction, the insider now directly owns 41,832 shares in the company, valued at approximately $14,798,070. The disclosure for this sale can be found here. Insiders have sold 322,213 shares of company stock worth $99,655,886 in the last quarter. Company insiders own 13.12% of the company’s stock.
Several analysts recently issued reports on the company. Pivotal Research reiterated a “buy” rating and set a $345.00 target price (up previously from $267.00) on shares of Trade Desk in a research report on Friday, May 8th. DA Davidson lowered shares of Trade Desk from a “buy” rating to a “neutral” rating and cut their price objective for the company from $310.00 to $300.00 in a report on Monday, May 11th. Royal Bank of Canada downgraded shares of Trade Desk from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $225.00 to $300.00 in a report on Friday, May 8th. Rosenblatt Securities upped their target price on shares of Trade Desk from $171.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Citigroup increased their price objective on shares of Trade Desk from $240.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $302.57.
TTD opened at $451.32 on Friday. Trade Desk Inc has a 12 month low of $136.00 and a 12 month high of $475.67. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $419.39 and a 200 day moving average of $304.42. The firm has a market cap of $20.79 billion, a P/E ratio of 177.69, a P/E/G ratio of 9.88 and a beta of 2.67.
Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.81. Trade Desk had a return on equity of 20.65% and a net margin of 17.44%. The firm had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $158.10 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s quarterly revenue was up 32.8% on a year-over-year basis. On average, research analysts forecast that Trade Desk Inc will post 1.74 earnings per share for the current fiscal year.
About Trade Desk
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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