Pitcairn Co. raised its stake in Trade Desk Inc (NASDAQ:TTD) by 27.3% during the third quarter, HoldingsChannel.com reports. The fund owned 7,533 shares of the technology company’s stock after acquiring an additional 1,617 shares during the quarter. Pitcairn Co.’s holdings in Trade Desk were worth $1,137,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP bought a new stake in shares of Trade Desk during the first quarter worth $3,705,000. Principal Financial Group Inc. grew its holdings in shares of Trade Desk by 13.4% during the first quarter. Principal Financial Group Inc. now owns 21,290 shares of the technology company’s stock worth $1,056,000 after purchasing an additional 2,519 shares during the last quarter. UBS Group AG grew its holdings in shares of Trade Desk by 5.8% during the first quarter. UBS Group AG now owns 28,231 shares of the technology company’s stock worth $1,400,000 after purchasing an additional 1,551 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Trade Desk by 5.7% during the first quarter. The Manufacturers Life Insurance Company now owns 19,665 shares of the technology company’s stock worth $975,000 after purchasing an additional 1,063 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Trade Desk by 106.8% during the first quarter. LPL Financial LLC now owns 12,410 shares of the technology company’s stock worth $616,000 after purchasing an additional 6,410 shares during the last quarter. Hedge funds and other institutional investors own 70.60% of the company’s stock.
TTD has been the topic of several research reports. Zacks Investment Research raised Trade Desk from a “hold” rating to a “buy” rating and set a $174.00 price target on the stock in a research note on Friday, September 28th. Citigroup upped their price target on Trade Desk to $178.00 and gave the company a “buy” rating in a research note on Wednesday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target (up previously from $126.00) on shares of Trade Desk in a research note on Tuesday, September 25th. BidaskClub lowered Trade Desk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Rosenblatt Securities initiated coverage on Trade Desk in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $138.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $118.00.
NASDAQ:TTD opened at $123.00 on Tuesday. Trade Desk Inc has a 1-year low of $40.70 and a 1-year high of $161.50. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 103.36, a P/E/G ratio of 4.84 and a beta of 3.16.
Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 9th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The firm had revenue of $112.30 million for the quarter, compared to analyst estimates of $103.87 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 54.3% on a year-over-year basis. Equities research analysts expect that Trade Desk Inc will post 1.44 EPS for the current fiscal year.
In other news, CFO Paul Ross sold 26,230 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $126.35, for a total transaction of $3,314,160.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Robert David Perdue sold 902 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $151.49, for a total value of $136,643.98. Following the sale, the chief operating officer now directly owns 132,995 shares in the company, valued at approximately $20,147,412.55. The disclosure for this sale can be found here. Insiders sold 650,974 shares of company stock worth $88,005,057 in the last three months. Insiders own 23.54% of the company’s stock.
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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 connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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