Empower Advisory Group LLC Acquires Shares of 6,855 The Trade Desk, Inc. (NASDAQ:TTD)

Posted by Defense World Staff on Sep 17th, 2023

Empower Advisory Group LLC acquired a new stake in shares of The Trade Desk, Inc. (NASDAQ:TTD – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,855 shares of the technology company’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTD. JPMorgan Chase & Co. lifted its holdings in Trade Desk by 61.6% during the first quarter. JPMorgan Chase & Co. now owns 19,593,717 shares of the technology company’s stock valued at $1,193,453,000 after purchasing an additional 7,471,935 shares in the last quarter. Norges Bank purchased a new position in shares of Trade Desk in the fourth quarter worth about $100,508,000. 1832 Asset Management L.P. lifted its stake in shares of Trade Desk by 81.8% in the first quarter. 1832 Asset Management L.P. now owns 3,638,000 shares of the technology company’s stock worth $221,591,000 after buying an additional 1,636,700 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Trade Desk by 10.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,367,719 shares of the technology company’s stock worth $599,275,000 after buying an additional 1,239,936 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Trade Desk by 74.2% in the first quarter. Bank of America Corp DE now owns 2,853,174 shares of the technology company’s stock worth $173,787,000 after buying an additional 1,215,662 shares in the last quarter. 68.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TTD. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of Trade Desk in a research note on Thursday, August 10th. Morgan Stanley raised their price target on shares of Trade Desk from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. DA Davidson lifted their target price on shares of Trade Desk from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Redburn Partners initiated coverage on shares of Trade Desk in a research note on Tuesday, July 18th. They set a “sell” rating and a $34.00 target price on the stock. Finally, Robert W. Baird initiated coverage on shares of Trade Desk in a research note on Friday, August 18th. They set an “outperform” rating and a $88.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.48.

Get Our Latest Stock Report on TTD

Trade Desk Stock Performance

Shares of TTD stock opened at $83.38 on Friday. The Trade Desk, Inc. has a fifty-two week low of $39.43 and a fifty-two week high of $91.85. The company has a 50 day moving average price of $81.94 and a 200 day moving average price of $71.39. The stock has a market capitalization of $40.87 billion, a P/E ratio of 320.70, a price-to-earnings-growth ratio of 7.43 and a beta of 1.72.

Trade Desk (NASDAQ:TTD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Trade Desk had a return on equity of 6.43% and a net margin of 7.46%. The firm had revenue of $464.25 million during the quarter, compared to analysts’ expectations of $455.21 million. On average, research analysts forecast that The Trade Desk, Inc. will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 2,999 shares of Trade Desk stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $75.97, for a total value of $227,834.03. Following the completion of the transaction, the director now owns 69,300 shares in the company, valued at $5,264,721. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrea Lee Cunningham sold 2,504 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $85.75, for a total transaction of $214,718.00. Following the completion of the sale, the director now owns 3,225 shares in the company, valued at approximately $276,543.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 2,999 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $75.97, for a total transaction of $227,834.03. Following the sale, the director now owns 69,300 shares of the company’s stock, valued at approximately $5,264,721. The disclosure for this sale can be found here. Insiders sold 72,627 shares of company stock worth $6,204,371 over the last 90 days. 10.81% of the stock is owned by insiders.

Trade Desk Profile

(Free Report)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.