AdvisorNet Financial Inc Acquires 1,120 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

AdvisorNet Financial Inc boosted its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTDGet Rating) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,638 shares of the technology company’s stock after acquiring an additional 1,120 shares during the quarter. AdvisorNet Financial Inc’s holdings in Trade Desk were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TTD. Norges Bank bought a new stake in shares of Trade Desk in the 4th quarter valued at $209,903,000. JPMorgan Chase & Co. boosted its stake in shares of Trade Desk by 38.8% in the 1st quarter. JPMorgan Chase & Co. now owns 8,180,680 shares of the technology company’s stock valued at $566,514,000 after purchasing an additional 2,288,783 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Trade Desk by 6,991.1% in the 1st quarter. American Century Companies Inc. now owns 1,739,222 shares of the technology company’s stock valued at $120,441,000 after purchasing an additional 1,714,695 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Trade Desk by 56,579.9% in the 4th quarter. 1832 Asset Management L.P. now owns 1,717,400 shares of the technology company’s stock valued at $161,574,000 after purchasing an additional 1,714,370 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Trade Desk by 45.5% in the 1st quarter. Allianz Asset Management GmbH now owns 5,482,308 shares of the technology company’s stock valued at $379,650,000 after purchasing an additional 1,714,019 shares during the last quarter. 67.71% of the stock is owned by institutional investors.

Trade Desk Trading Down 1.4 %

TTD opened at $61.89 on Monday. The company’s fifty day moving average price is $57.59 and its two-hundred day moving average price is $56.89. The Trade Desk, Inc. has a 1-year low of $39.00 and a 1-year high of $114.09. The company has a market cap of $30.01 billion, a price-to-earnings ratio of 884.27, a PEG ratio of 12.28 and a beta of 1.94.

Trade Desk (NASDAQ:TTDGet Rating) last posted its earnings results on Tuesday, August 9th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Trade Desk had a return on equity of 2.16% and a net margin of 2.43%. The firm had revenue of $376.96 million during the quarter, compared to the consensus estimate of $365.20 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was up 34.6% compared to the same quarter last year. As a group, equities analysts forecast that The Trade Desk, Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TTD. DA Davidson upped their price objective on shares of Trade Desk from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Wolfe Research started coverage on shares of Trade Desk in a research note on Tuesday, August 16th. They issued a “market perform” rating on the stock. KeyCorp boosted their target price on shares of Trade Desk from $52.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, August 10th. Evercore ISI boosted their target price on shares of Trade Desk to $75.00 in a research report on Monday, August 15th. Finally, Royal Bank of Canada dropped their target price on shares of Trade Desk from $85.00 to $75.00 in a research report on Thursday, August 4th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.24.

Insider Transactions at Trade Desk

In other news, CFO Blake Jeffrey Grayson sold 3,676 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.50, for a total value of $266,510.00. Following the completion of the sale, the chief financial officer now owns 197,858 shares in the company, valued at approximately $14,344,705. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.79% of the company’s stock.

Trade Desk Profile

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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 create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

Further Reading

Institutional Ownership by Quarter for Trade Desk (NASDAQ:TTD)

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