Cypress Asset Management Inc. TX increased its position in shares of Trade Desk Inc (NASDAQ:TTD) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,175 shares of the technology company’s stock after buying an additional 75 shares during the period. Cypress Asset Management Inc. TX’s holdings in Trade Desk were worth $1,420,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Trade Desk in the fourth quarter valued at about $2,441,000. Covenant Asset Management LLC purchased a new position in Trade Desk in the first quarter valued at about $3,145,000. California State Teachers Retirement System grew its stake in Trade Desk by 4.9% in the fourth quarter. California State Teachers Retirement System now owns 52,221 shares of the technology company’s stock valued at $6,061,000 after purchasing an additional 2,442 shares during the last quarter. First Mercantile Trust Co. grew its stake in shares of Trade Desk by 109.3% during the fourth quarter. First Mercantile Trust Co. now owns 7,500 shares of the technology company’s stock worth $871,000 after acquiring an additional 3,916 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Trade Desk by 78.1% during the fourth quarter. Raymond James & Associates now owns 29,807 shares of the technology company’s stock worth $3,459,000 after acquiring an additional 13,075 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Shares of NASDAQ:TTD traded down $0.13 during midday trading on Wednesday, reaching $198.90. The company’s stock had a trading volume of 1,228,854 shares, compared to its average volume of 1,530,631. Trade Desk Inc has a 1 year low of $80.09 and a 1 year high of $232.70. The company has a quick ratio of 1.48, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. The company has a market cap of $8.73 billion, a P/E ratio of 103.59, a P/E/G ratio of 5.42 and a beta of 2.93.
Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.42. Trade Desk had a return on equity of 24.41% and a net margin of 17.41%. The firm had revenue of $121.00 million during the quarter, compared to the consensus estimate of $117.13 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. Sell-side analysts expect that Trade Desk Inc will post 1.83 earnings per share for the current fiscal year.
In related news, CFO Paul Ross sold 1,114 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $203.08, for a total value of $226,231.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Vivian Yang sold 7,689 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $204.22, for a total value of $1,570,247.58. Following the completion of the transaction, the insider now owns 44,807 shares in the company, valued at approximately $9,150,485.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 647,946 shares of company stock valued at $128,029,084. 17.44% of the stock is owned by company insiders.
TTD has been the subject of a number of research reports. TheStreet raised Trade Desk from a “c” rating to a “b-” rating in a report on Friday, March 8th. Raymond James reaffirmed a “buy” rating and set a $183.00 target price on shares of Trade Desk in a report on Friday, February 22nd. DA Davidson lifted their target price on Trade Desk to $190.00 and gave the stock a “buy” rating in a report on Friday, February 22nd. Citigroup lifted their target price on Trade Desk from $159.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 22nd. Finally, Jefferies Financial Group boosted their price target on Trade Desk from $150.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $177.83.
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Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
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