Credit Suisse AG grew its holdings in The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 433,609 shares of the technology company’s stock after acquiring an additional 37,190 shares during the quarter. Credit Suisse AG owned 0.09% of Trade Desk worth $19,439,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. raised its position in Trade Desk by 5.7% during the fourth quarter. Baillie Gifford & Co. now owns 47,175,426 shares of the technology company’s stock valued at $2,114,874,000 after acquiring an additional 2,538,566 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 39,911,814 shares of the technology company’s stock valued at $2,763,893,000 after purchasing an additional 263,838 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Trade Desk by 40.1% in the 4th quarter. JPMorgan Chase & Co. now owns 12,121,782 shares of the technology company’s stock valued at $543,421,000 after purchasing an additional 3,470,657 shares during the last quarter. State Street Corp lifted its stake in shares of Trade Desk by 0.6% in the 3rd quarter. State Street Corp now owns 8,851,640 shares of the technology company’s stock valued at $528,885,000 after purchasing an additional 51,815 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Trade Desk by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 6,047,698 shares of the technology company’s stock worth $270,792,000 after acquiring an additional 216,328 shares in the last quarter. 67.04% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TTD. Oppenheimer raised their target price on Trade Desk from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, May 11th. Stephens raised their target price on Trade Desk from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 16th. Vertical Research upgraded Trade Desk from a “neutral” rating to a “positive” rating in a report on Wednesday, May 3rd. Guggenheim decreased their price objective on Trade Desk from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, March 27th. Finally, Royal Bank of Canada lifted their price objective on Trade Desk from $77.00 to $85.00 in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $72.78.
Trade Desk Price Performance
Trade Desk (NASDAQ:TTD – Get Rating) last posted its earnings results on Wednesday, May 10th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The company had revenue of $382.80 million for the quarter, compared to the consensus estimate of $364.85 million. Trade Desk had a return on equity of 3.99% and a net margin of 4.70%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 0.46 EPS for the current fiscal year.
Insider Transactions at Trade Desk
In other news, CTO David Randall Pickles sold 2,060 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $72.70, for a total value of $149,762.00. Following the completion of the transaction, the chief technology officer now directly owns 526,721 shares of the company’s stock, valued at $38,292,616.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director David B. Wells sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $70.00, for a total value of $1,400,000.00. Following the completion of the transaction, the director now directly owns 86,570 shares in the company, valued at $6,059,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Randall Pickles sold 2,060 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $72.70, for a total value of $149,762.00. Following the completion of the transaction, the chief technology officer now owns 526,721 shares of the company’s stock, valued at $38,292,616.70. The disclosure for this sale can be found here. Insiders sold a total of 1,009,194 shares of company stock valued at $61,463,352 over the last three months. 10.81% of the stock is currently owned by insiders.
About Trade Desk
The Trade Desk, Inc engages in the provision of a technology platform for advertising buyers. It operates through the United States and International geographical segments. The firm’s products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.
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