Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Trade Desk Inc (NASDAQ:TTD) by 179.4% during the 2nd quarter, according to its most recent filing 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Trade Desk during the first quarter worth $25,000. Larson Financial Group LLC raised its position in shares of Trade Desk by 105.1% in the second quarter. Larson Financial Group LLC now owns 80 shares of the technology company’s stock worth $33,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Trade Desk by 770.0% during the 2nd quarter. Sound Income Strategies LLC now owns 87 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Trade Desk by 79.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 194 shares of the technology company’s stock valued at $37,000 after acquiring an additional 86 shares during the period. Finally, CSat Investment Advisory L.P. increased its stake in shares of Trade Desk by 23.8% in the 1st quarter. CSat Investment Advisory L.P. now owns 198 shares of the technology company’s stock valued at $38,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.
NASDAQ:TTD opened at $451.32 on Friday. Trade Desk Inc has a one year low of $136.00 and a one year high of $475.67. The stock has a market cap of $20.79 billion, a PE ratio of 177.69, a P/E/G ratio of 9.88 and a beta of 2.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a 50 day moving average price of $419.39 and a 200 day moving average price of $304.42.
Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $158.10 million. During the same period in the prior year, the business earned $0.49 EPS. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, analysts predict that Trade Desk Inc will post 1.74 earnings per share for the current fiscal year.
A number of analysts have recently commented on TTD shares. Oppenheimer boosted their price objective on Trade Desk from $320.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Citigroup boosted their price target on shares of Trade Desk from $240.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Rosenblatt Securities increased their price objective on shares of Trade Desk from $171.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. ValuEngine raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. Finally, Zacks Investment Research raised shares of Trade Desk from a “hold” rating to a “buy” rating and set a $333.00 price target on the stock in a research note on Saturday, May 16th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $302.57.
In related news, insider Vivian Yang sold 3,405 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $274.22, for a total value of $933,719.10. Following the completion of the transaction, the insider now directly 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 is available at this hyperlink. Also, CMO Susan Vobejda sold 511 shares of Trade Desk stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $305.00, for a total value of $155,855.00. Following the completion of the sale, the chief marketing officer now owns 35,644 shares in the company, valued at approximately $10,871,420. The disclosure for this sale can be found here. Insiders sold 322,213 shares of company stock valued at $99,655,886 in the last three months. 13.12% of the stock is currently owned by insiders.
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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