Mediolanum International Funds Ltd Boosts Stake in The Trade Desk $TTD

Mediolanum International Funds Ltd grew its stake in shares of The Trade Desk (NASDAQ:TTD) by 107.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 184,270 shares of the technology company’s stock after buying an additional 95,555 shares during the period. Mediolanum International Funds Ltd’s holdings in Trade Desk were worth $4,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Spartan Wealth Advisory Services LLC acquired a new position in Trade Desk in the 1st quarter valued at about $219,000. Assetmark Inc. boosted its stake in shares of Trade Desk by 10.8% during the 1st quarter. Assetmark Inc. now owns 23,239 shares of the technology company’s stock worth $527,000 after purchasing an additional 2,263 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Trade Desk by 397.9% during the 1st quarter. Bessemer Group Inc. now owns 8,633 shares of the technology company’s stock worth $196,000 after purchasing an additional 6,899 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Trade Desk during the first quarter worth about $3,237,000. Finally, Wealthfront Advisers LLC grew its holdings in shares of Trade Desk by 37.6% during the first quarter. Wealthfront Advisers LLC now owns 37,805 shares of the technology company’s stock worth $858,000 after buying an additional 10,332 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 0.3%

TTD opened at $18.64 on Tuesday. The Trade Desk has a 52-week low of $16.98 and a 52-week high of $91.45. The company has a 50 day moving average of $19.83 and a two-hundred day moving average of $24.63. The company has a market cap of $8.76 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.90 and a beta of 1.04.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The business had revenue of $688.86 million during the quarter, compared to analysts’ expectations of $678.87 million. During the same period in the prior year, the business posted $0.33 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Research analysts anticipate that The Trade Desk will post 1.17 earnings per share for the current year.

Insider Transactions at Trade Desk

In related news, Director Samantha Jacobson sold 53,681 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total value of $1,134,816.34. Following the completion of the sale, the director directly owned 13,099 shares in the company, valued at approximately $276,912.86. This represents a 80.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.41% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of a number of analyst reports. Rothschild & Co Redburn started coverage on shares of Trade Desk in a research report on Thursday, May 28th. They issued a “sell” rating and a $11.00 price objective for the company. Morgan Stanley set a $26.00 price target on Trade Desk in a report on Friday, May 8th. Needham & Company LLC decreased their price objective on Trade Desk from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup restated a “neutral” rating on shares of Trade Desk in a report on Friday, May 8th. Finally, KeyCorp downgraded Trade Desk from an “overweight” rating to a “sector weight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.43.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.