Bamco Inc. NY Increases Holdings in The Trade Desk $TTD

Bamco Inc. NY increased its stake in shares of The Trade Desk (NASDAQ:TTD) by 11.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,088,350 shares of the technology company’s stock after purchasing an additional 217,724 shares during the period. Bamco Inc. NY owned 0.42% of Trade Desk worth $150,340,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TTD. Sound Income Strategies LLC lifted its holdings in shares of Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after buying an additional 270 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Trade Desk during the 2nd quarter worth approximately $28,000. Transce3nd LLC purchased a new stake in Trade Desk in the 2nd quarter worth approximately $28,000. West Oak Capital LLC boosted its holdings in Trade Desk by 466.7% in the 2nd quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock valued at $31,000 after purchasing an additional 350 shares during the period. Finally, HighMark Wealth Management LLC boosted its holdings in Trade Desk by 46.2% in the 2nd quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock valued at $34,000 after purchasing an additional 151 shares during the period. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTD. Benchmark upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, November 7th. Wells Fargo & Company lowered their price target on Trade Desk from $53.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada set a $80.00 price target on Trade Desk and gave the company an “outperform” rating in a research report on Friday, November 7th. DA Davidson decreased their price objective on shares of Trade Desk from $80.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Finally, Wall Street Zen raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Twenty-one analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $76.56.

Trade Desk Stock Performance

TTD stock opened at $36.65 on Friday. The company’s 50 day moving average price is $45.48 and its 200 day moving average price is $58.36. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 1.84 and a beta of 1.07. The Trade Desk has a fifty-two week low of $36.51 and a fifty-two week high of $136.42.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. The company had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. Equities analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a share buyback plan on Thursday, November 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers 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.