BKS Advisors LLC bought a new stake in Trade Desk Inc (NASDAQ:TTD) in the first quarter, Holdings Channel reports. The institutional investor bought 3,000 shares of the technology company’s stock, valued at approximately $594,000.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Trade Desk during the 4th quarter valued at about $2,441,000. California State Teachers Retirement System boosted its stake in Trade Desk by 4.9% during the 4th quarter. California State Teachers Retirement System now owns 52,221 shares of the technology company’s stock valued at $6,061,000 after purchasing an additional 2,442 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Trade Desk by 109.3% during the 4th quarter. First Mercantile Trust Co. now owns 7,500 shares of the technology company’s stock valued at $871,000 after purchasing an additional 3,916 shares during the last quarter. Raymond James & Associates boosted its stake in Trade Desk by 78.1% during the 4th quarter. Raymond James & Associates now owns 29,807 shares of the technology company’s stock valued at $3,459,000 after purchasing an additional 13,075 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Trade Desk during the 3rd quarter valued at about $291,000. 71.77% of the stock is owned by institutional investors and hedge funds.
In related news, Director Thomas Falk sold 5,424 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $133.01, for a total value of $721,446.24. Following the transaction, the director now owns 9,269 shares in the company, valued at $1,232,869.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian John Stempeck sold 33,158 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $155.01, for a total value of $5,139,821.58. Following the completion of the transaction, the insider now owns 57,262 shares in the company, valued at approximately $8,876,182.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 625,274 shares of company stock worth $120,562,833. 17.44% of the stock is owned by company insiders.
Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, February 21st. The technology company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.56 by $0.28. Trade Desk had a return on equity of 27.22% and a net margin of 18.47%. The business had revenue of $160.47 million for the quarter, compared to the consensus estimate of $148.18 million. As a group, research analysts forecast that Trade Desk Inc will post 1.62 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research note on Saturday, February 2nd. Rosenblatt Securities reiterated a “hold” rating and set a $142.00 price target on shares of Trade Desk in a research note on Friday, February 22nd. BidaskClub downgraded Trade Desk from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 27th. DA Davidson boosted their target price on Trade Desk to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 22nd. Finally, Jefferies Financial Group boosted their target price on Trade Desk from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $150.22.
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Trade Desk Company Profile
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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