New York State Common Retirement Fund boosted its holdings in The Trade Desk Inc. (NASDAQ:TTD) by 244.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,600 shares of the technology company’s stock after acquiring an additional 13,199 shares during the period. New York State Common Retirement Fund’s holdings in The Trade Desk were worth $932,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in The Trade Desk by 181.5% in the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,824 shares during the period. BNP Paribas Arbitrage SA raised its position in The Trade Desk by 665.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,334 shares of the technology company’s stock valued at $117,000 after purchasing an additional 2,029 shares during the period. American International Group Inc. purchased a new stake in The Trade Desk in the first quarter valued at approximately $126,000. Legal & General Group Plc raised its position in The Trade Desk by 75.4% in the second quarter. Legal & General Group Plc now owns 3,872 shares of the technology company’s stock valued at $195,000 after purchasing an additional 1,664 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in The Trade Desk by 1,171.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,080 shares of the technology company’s stock valued at $204,000 after purchasing an additional 3,759 shares during the period. Hedge funds and other institutional investors own 63.08% of the company’s stock.
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Shares of The Trade Desk Inc. (TTD) opened at $64.62 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2,635.20, a price-to-earnings ratio of 61.54 and a beta of 7.32.
The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The business had revenue of $72.80 million for the quarter, compared to analyst estimates of $68.02 million. The business’s quarterly revenue was up 54.2% compared to the same quarter last year. analysts predict that The Trade Desk Inc. will post 1.16 earnings per share for the current fiscal year.
In related news, CEO Jeffrey Terry Green sold 9,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.26, for a total value of $596,340.00. Following the transaction, the chief executive officer now owns 99,400 shares of the company’s stock, valued at $6,586,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Randall Pickles sold 75,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $49.91, for a total value of $3,743,250.00. Following the completion of the transaction, the insider now directly owns 127,736 shares in the company, valued at approximately $6,375,303.76. The disclosure for this sale can be found here. Insiders sold 240,894 shares of company stock worth $13,764,597 in the last three months. 26.87% of the stock is currently owned by corporate insiders.
TTD has been the topic of a number of research analyst reports. BidaskClub raised The Trade Desk from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Citigroup Inc. reissued a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of The Trade Desk in a research report on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price (up previously from $57.00) on shares of The Trade Desk in a research report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective (up previously from $56.00) on shares of The Trade Desk in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Trade Desk in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The Trade Desk currently has a consensus rating of “Buy” and a consensus target price of $66.63.
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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