The Trade Desk Inc. (NASDAQ:TTD) announced its quarterly earnings results on Thursday. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.29, Morningstar.com reports. The company had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.02 million. The firm’s revenue was up 54.2% on a year-over-year basis.
Shares of The Trade Desk (TTD) opened at 50.06 on Friday. The Trade Desk has a 52 week low of $22.00 and a 52 week high of $57.87. The company has a market capitalization of $2.00 billion and a PE ratio of 50.21. The stock has a 50 day moving average price of $52.31 and a 200-day moving average price of $43.56.
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In other The Trade Desk news, insider David Randall Pickles sold 75,000 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $52.74, for a total value of $3,955,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Ross sold 10,000 shares of The Trade Desk stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $52.61, for a total value of $526,100.00. Following the completion of the sale, the chief financial officer now owns 53,788 shares of the company’s stock, valued at $2,829,786.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,939,884 shares of company stock valued at $251,049,487. 26.87% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in The Trade Desk by 33.5% in the first quarter. JPMorgan Chase & Co. now owns 709,520 shares of the technology company’s stock valued at $26,431,000 after buying an additional 178,016 shares in the last quarter. State Street Corp purchased a new stake in The Trade Desk during the fourth quarter valued at approximately $1,581,000. Frontier Capital Management Co. LLC purchased a new stake in The Trade Desk during the first quarter valued at approximately $14,820,000. Cipher Capital LP purchased a new stake in The Trade Desk during the first quarter valued at approximately $398,000. Finally, American International Group Inc. purchased a new stake in The Trade Desk during the first quarter valued at approximately $126,000. Hedge funds and other institutional investors own 53.33% of the company’s stock.
A number of analysts have recently commented on TTD shares. Zacks Investment Research raised The Trade Desk from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Friday, May 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Trade Desk in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $57.00 price target (up from $41.00) on shares of The Trade Desk in a research note on Sunday, May 14th. Finally, Cantor Fitzgerald raised The Trade Desk from a “neutral” rating to an “overweight” rating and upped their price target for the company from $45.00 to $56.00 in a research note on Friday, May 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $54.56.
About The Trade Desk
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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