The Trade Desk $TTD is Arthedge Capital Management LLC’s 6th Largest Position

Arthedge Capital Management LLC grew its holdings in The Trade Desk (NASDAQ:TTD) by 60.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,300 shares of the technology company’s stock after purchasing an additional 92,000 shares during the period. Trade Desk comprises approximately 10.1% of Arthedge Capital Management LLC’s holdings, making the stock its 6th largest holding. Arthedge Capital Management LLC’s holdings in Trade Desk were worth $17,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Sound Income Strategies LLC increased its stake in Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock worth $26,000 after buying an additional 270 shares during the period. Transce3nd LLC bought a new position in Trade Desk in the 2nd quarter worth about $28,000. Twin Peaks Wealth Advisors LLC bought a new position in Trade Desk in the 2nd quarter worth about $28,000. West Oak Capital LLC increased its position in shares of Trade Desk by 466.7% during the second quarter. West Oak Capital LLC now owns 425 shares of the technology company’s stock worth $31,000 after acquiring an additional 350 shares during the period. Finally, HighMark Wealth Management LLC raised its stake in shares of Trade Desk by 46.2% during the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock valued at $34,000 after acquiring an additional 151 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Price Performance

TTD opened at $36.65 on Monday. The business’s 50-day moving average is $45.48 and its two-hundred day moving average is $58.10. The Trade Desk has a 1 year low of $36.51 and a 1 year high of $136.42. The firm has a market capitalization of $17.72 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating 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 business had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on TTD shares. Royal Bank Of Canada set a $80.00 price objective on Trade Desk and gave the stock an “outperform” rating in a research note on Friday, November 7th. Zacks Research raised Trade Desk from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Jefferies Financial Group set a $40.00 price target on Trade Desk and gave the company a “hold” rating in a research note on Thursday. UBS Group restated a “buy” rating and issued a $82.00 price objective (up from $80.00) on shares of Trade Desk in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Twenty-one analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.56.

Trade Desk 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.