Norges Bank acquired a new stake in shares of Trade Desk Inc (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 315,011 shares of the technology company’s stock, valued at approximately $36,560,000.
Other institutional investors have also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware purchased a new stake in Trade Desk during the fourth quarter valued at $26,000. Financial Architects Inc increased its position in Trade Desk by 114.1% during the fourth quarter. Financial Architects Inc now owns 304 shares of the technology company’s stock valued at $35,000 after acquiring an additional 162 shares during the last quarter. Neuburgh Advisers LLC increased its position in Trade Desk by 77.8% during the fourth quarter. Neuburgh Advisers LLC now owns 352 shares of the technology company’s stock valued at $41,000 after acquiring an additional 154 shares during the last quarter. Private Capital Group LLC increased its position in Trade Desk by 139.3% during the fourth quarter. Private Capital Group LLC now owns 493 shares of the technology company’s stock valued at $57,000 after acquiring an additional 287 shares during the last quarter. Finally, Flinton Capital Management LLC increased its position in Trade Desk by 77.8% during the fourth quarter. Flinton Capital Management LLC now owns 544 shares of the technology company’s stock valued at $63,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 71.76% of the company’s stock.
Shares of Trade Desk stock opened at $202.16 on Tuesday. Trade Desk Inc has a 12 month low of $47.61 and a 12 month high of $214.70. The company has a market cap of $8.81 billion, a P/E ratio of 105.29, a PEG ratio of 6.74 and a beta of 2.98.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, February 21st. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.28. Trade Desk had a return on equity of 27.22% and a net margin of 18.47%. The business had revenue of $160.47 million for the quarter, compared to the consensus estimate of $148.18 million. On average, equities analysts anticipate that Trade Desk Inc will post 1.62 EPS for the current year.
In other Trade Desk news, Director Eric B. Paley sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $197.24, for a total transaction of $98,620.00. Following the sale, the director now directly owns 31,881 shares in the company, valued at $6,288,208.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Terry Green sold 10,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $195.04, for a total value of $1,950,400.00. Following the completion of the sale, the insider now owns 103,392 shares in the company, valued at $20,165,575.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 625,274 shares of company stock worth $120,562,833. Company insiders own 17.44% of the company’s stock.
Several research firms have issued reports on TTD. TheStreet raised Trade Desk from a “c” rating to a “b-” rating in a report on Friday, March 8th. Zacks Investment Research lowered Trade Desk from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 28th. Raymond James reissued a “buy” rating and set a $183.00 price target on shares of Trade Desk in a report on Friday, February 22nd. Rosenblatt Securities reissued a “hold” rating and set a $142.00 price target on shares of Trade Desk in a report on Friday, February 22nd. Finally, CIBC boosted their price target on Trade Desk from $180.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, March 8th. One 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’s stock. The company presently has an average rating of “Buy” and a consensus price target of $150.22.
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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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