APG Asset Management N.V. bought a new position in Trade Desk Inc (NASDAQ:TTD) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,500 shares of the technology company’s stock, valued at approximately $1,675,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TTD. Quest Investment Management LLC acquired a new position in Trade Desk in the first quarter valued at about $1,972,000. Parametrica Management Ltd bought a new position in shares of Trade Desk during the 1st quarter valued at about $247,000. Malaga Cove Capital LLC grew its position in shares of Trade Desk by 3.5% in the 1st quarter. Malaga Cove Capital LLC now owns 2,966 shares of the technology company’s stock valued at $573,000 after purchasing an additional 100 shares during the period. Two Sigma Advisers LP bought a new stake in Trade Desk during the 1st quarter worth approximately $17,472,000. Finally, HBK Sorce Advisory LLC bought a new stake in Trade Desk during the 1st quarter worth approximately $206,000. 69.43% of the stock is currently owned by institutional investors.
In other news, Director David B. Wells sold 2,840 shares of the stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $400.00, for a total transaction of $1,136,000.00. Following the transaction, the director now owns 13,457 shares in the company, valued at $5,382,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vivian Yang sold 3,405 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $205.00, for a total value of $698,025.00. Following the completion of the sale, the insider now owns 29,998 shares of the company’s stock, valued at $6,149,590. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 337,524 shares of company stock valued at $103,655,005. Company insiders own 13.12% of the company’s stock.
Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.81. The company had revenue of $160.70 million during the quarter, compared to the consensus estimate of $158.10 million. Trade Desk had a net margin of 17.44% and a return on equity of 20.65%. The company’s quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. On average, equities analysts predict that Trade Desk Inc will post 1.94 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. SunTrust Banks downgraded shares of Trade Desk from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $280.00 to $250.00 in a research report on Friday, May 8th. ValuEngine raised Trade Desk from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. Stephens cut their price target on Trade Desk from $310.00 to $255.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Royal Bank of Canada downgraded Trade Desk from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $225.00 to $300.00 in a report on Friday, May 8th. Finally, DA Davidson cut Trade Desk from a “buy” rating to a “neutral” rating and cut their target price for the company from $310.00 to $300.00 in a research note on Monday, May 11th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $289.07.
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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