State Street Corp Has $15.17 Million Stake in The Trade Desk Inc. (TTD)
State Street Corp raised its stake in The Trade Desk Inc. (NASDAQ:TTD) by 189.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,780 shares of the technology company’s stock after acquiring an additional 198,089 shares during the quarter. State Street Corp owned approximately 0.76% of The Trade Desk worth $15,169,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AHL Partners LLP acquired a new position in The Trade Desk in the second quarter valued at $373,000. Quantum Capital Management LLC NJ acquired a new position in The Trade Desk in the second quarter valued at $3,787,000. American International Group Inc. acquired a new position in The Trade Desk in the first quarter valued at $126,000. Balyasny Asset Management LLC acquired a new position in The Trade Desk in the second quarter valued at $6,194,000. Finally, Shaker Investments LLC OH acquired a new position in The Trade Desk in the second quarter valued at $1,116,000. 64.44% of the stock is owned by institutional investors.
TTD has been the subject of several analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of The Trade Desk in a research note on Wednesday, August 2nd. Cantor Fitzgerald upped their target price on The Trade Desk from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price (up from $56.00) on shares of The Trade Desk in a research note on Friday, August 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 target price (up from $57.00) on shares of The Trade Desk in a research note on Friday, August 11th. Finally, Citigroup Inc. reissued a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of The Trade Desk in a research report on Friday, August 11th. Three 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 a consensus rating of “Buy” and a consensus price target of $67.07.
Shares of The Trade Desk Inc. (TTD) opened at $51.92 on Wednesday. The Trade Desk Inc. has a 1 year low of $25.48 and a 1 year high of $67.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $2,070.13, a PE ratio of 48.46 and a beta of 7.32.
The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 9th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.15. The Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The firm had revenue of $79.40 million during the quarter, compared to the consensus estimate of $76.84 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 49.8% compared to the same quarter last year. equities research analysts forecast that The Trade Desk Inc. will post 1.29 EPS for the current year.
In other news, COO Robert David Perdue sold 12,500 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $53.66, for a total value of $670,750.00. Following the completion of the sale, the chief operating officer now owns 82,664 shares of the company’s stock, valued at $4,435,750.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian John Stempeck sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.78, for a total value of $487,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,894 shares of company stock valued at $9,967,547. 26.87% of the stock is owned by company insiders.
The Trade Desk Company Profile
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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