Trade Desk (NASDAQ:TTD) announced its quarterly earnings data on Thursday. The technology company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.06), Morningstar.com reports. The firm had revenue of $118.80 million for the quarter, compared to the consensus estimate of $117.48 million. Trade Desk had a net margin of 14.59% and a return on equity of 21.65%. The firm’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. Trade Desk updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of NASDAQ:TTD traded up $0.37 on Friday, reaching $122.57. The company’s stock had a trading volume of 5,932,338 shares, compared to its average volume of 1,206,965. Trade Desk has a 52-week low of $40.70 and a 52-week high of $161.50. The stock has a market capitalization of $5.66 billion, a P/E ratio of 103.00, a PEG ratio of 4.99 and a beta of 3.16.
In related news, insider Brian John Stempeck sold 21,000 shares of Trade Desk stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $122.83, for a total transaction of $2,579,430.00. Following the completion of the transaction, the insider now directly owns 66,020 shares of the company’s stock, valued at approximately $8,109,236.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert David Perdue sold 903 shares of Trade Desk stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $124.79, for a total transaction of $112,685.37. Following the transaction, the chief operating officer now directly owns 132,996 shares of the company’s stock, valued at $16,596,570.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 640,974 shares of company stock valued at $86,922,757. 26.87% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Trade Desk during the 3rd quarter worth about $177,000. US Bancorp DE boosted its position in Trade Desk by 136.6% in the 3rd quarter. US Bancorp DE now owns 1,356 shares of the technology company’s stock valued at $204,000 after buying an additional 783 shares during the period. GWM Advisors LLC purchased a new stake in Trade Desk in the 3rd quarter valued at about $219,000. CIBC Asset Management Inc purchased a new stake in Trade Desk in the 3rd quarter valued at about $227,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Trade Desk in the 2nd quarter valued at about $147,000. 70.60% of the stock is owned by hedge funds and other institutional investors.
TTD has been the topic of a number of research reports. Citigroup initiated coverage on shares of Trade Desk in a report on Tuesday, October 2nd. They issued a “neutral” rating and a $138.00 price target on the stock. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Friday, August 24th. BidaskClub upgraded shares of Trade Desk from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. SunTrust Banks lifted their price target on shares of Trade Desk to $120.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target (up from $126.00) on shares of Trade Desk in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $118.53.
About Trade Desk
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 connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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