Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in shares of Trade Desk Inc (NASDAQ:TTD) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 107,250 shares of the technology company’s stock after acquiring an additional 1,250 shares during the period. Trade Desk comprises approximately 2.8% of Macguire Cheswick & Tuttle Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest holding. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Trade Desk were worth $16,185,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in TTD. FMR LLC boosted its stake in Trade Desk by 106.3% during the second quarter. FMR LLC now owns 1,715,441 shares of the technology company’s stock valued at $160,908,000 after buying an additional 883,811 shares during the last quarter. BlackRock Inc. raised its position in Trade Desk by 39.5% during the second quarter. BlackRock Inc. now owns 1,992,379 shares of the technology company’s stock valued at $186,884,000 after purchasing an additional 564,170 shares during the period. Jennison Associates LLC purchased a new stake in Trade Desk during the second quarter valued at approximately $37,534,000. Renaissance Technologies LLC raised its position in Trade Desk by 93.1% during the second quarter. Renaissance Technologies LLC now owns 552,105 shares of the technology company’s stock valued at $51,787,000 after purchasing an additional 266,205 shares during the period. Finally, Westwood Management Corp IL purchased a new stake in Trade Desk during the third quarter valued at approximately $35,483,000. 70.60% of the stock is owned by institutional investors.
Shares of NASDAQ TTD opened at $122.57 on Monday. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 103.00, a P/E/G ratio of 4.63 and a beta of 3.16. Trade Desk Inc has a 12-month low of $40.70 and a 12-month high of $161.50.
Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 8th. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company 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 15.62% and a return on equity of 24.28%. The firm’s revenue was up 49.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. On average, equities research analysts forecast that Trade Desk Inc will post 1.44 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on TTD. Zacks Investment Research upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Tuesday, August 14th. Wells Fargo & Co restated a “hold” rating and set a $110.00 price objective on shares of Trade Desk in a report on Friday, August 10th. Oppenheimer raised their price objective on Trade Desk from $101.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Macquarie upgraded Trade Desk to a “buy” rating and raised their price objective for the stock from $95.00 to $130.00 in a report on Friday, August 10th. Finally, Royal Bank of Canada raised their price objective on Trade Desk from $80.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Trade Desk presently has an average rating of “Buy” and an average price target of $118.53.
In other news, CFO Paul Ross sold 7,174 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $128.99, for a total value of $925,374.26. Following the completion of the sale, the chief financial officer now owns 46,360 shares of the company’s stock, valued at approximately $5,979,976.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian John Stempeck sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $126.94, for a total value of $3,808,200.00. Following the completion of the sale, the insider now directly owns 75,020 shares of the company’s stock, valued at approximately $9,523,038.80. The disclosure for this sale can be found here. Insiders have sold a total of 614,744 shares of company stock worth $83,608,597 in the last ninety days. Insiders own 26.87% of the company’s stock.
Trade Desk 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 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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