Legal & General Group Plc increased its holdings in Trade Desk Inc (NASDAQ:TTD) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,276 shares of the technology company’s stock after buying an additional 2,003 shares during the period. Legal & General Group Plc’s holdings in Trade Desk were worth $1,656,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware purchased a new stake in Trade Desk in the 4th quarter worth approximately $26,000. Financial Architects Inc lifted its stake in Trade Desk by 114.1% in the 4th quarter. Financial Architects Inc now owns 304 shares of the technology company’s stock worth $35,000 after purchasing an additional 162 shares in the last quarter. Neuburgh Advisers LLC lifted its stake in Trade Desk by 77.8% in the 4th quarter. Neuburgh Advisers LLC now owns 352 shares of the technology company’s stock worth $41,000 after purchasing an additional 154 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Trade Desk by 792.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 464 shares of the technology company’s stock worth $70,000 after purchasing an additional 412 shares in the last quarter. Finally, Private Capital Group LLC lifted its stake in Trade Desk by 139.3% in the 4th quarter. Private Capital Group LLC now owns 493 shares of the technology company’s stock worth $57,000 after purchasing an additional 287 shares in the last quarter. 71.77% of the stock is owned by institutional investors.
Several research firms have issued reports on TTD. TheStreet upgraded shares of Trade Desk from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Zacks Investment Research cut shares of Trade Desk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 28th. Raymond James restated a “buy” rating and set a $183.00 price objective on shares of Trade Desk in a research report on Friday, February 22nd. Rosenblatt Securities restated a “hold” rating and set a $142.00 price objective on shares of Trade Desk in a research report on Friday, February 22nd. Finally, CIBC raised their price objective on shares of Trade Desk from $180.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $150.22.
In related news, Director Kathryn E. Falberg sold 40,000 shares of Trade Desk stock in a transaction on Monday, March 11th. The shares were sold at an average price of $205.47, for a total value of $8,218,800.00. Following the transaction, the director now owns 10,286 shares in the company, valued at approximately $2,113,464.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul Ross sold 6,049 shares of Trade Desk stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $154.90, for a total transaction of $936,990.10. Following the completion of the transaction, the chief financial officer now owns 38,644 shares in the company, valued at approximately $5,985,955.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 676,382 shares of company stock worth $131,182,324. 17.44% of the stock is owned by corporate insiders.
Shares of NASDAQ:TTD opened at $198.74 on Friday. The firm has a market capitalization of $8.76 billion, a P/E ratio of 103.51, a price-to-earnings-growth ratio of 6.80 and a beta of 2.98. Trade Desk Inc has a 52 week low of $47.61 and a 52 week high of $214.70.
Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, February 21st. The technology company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.28. The company had revenue of $160.47 million for the quarter, compared to analysts’ expectations of $148.18 million. Trade Desk had a net margin of 18.47% and a return on equity of 27.22%. As a group, analysts forecast that Trade Desk Inc will post 1.62 earnings per share for the current year.
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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 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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