Trade Desk (NASDAQ:TTD) announced its quarterly earnings data on Thursday. The technology company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.06), Morningstar.com reports. The firm had revenue of $118.80 million for the quarter, compared to analysts’ expectations of $117.48 million. Trade Desk had a return on equity of 21.65% and a net margin of 14.59%. The firm’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. Trade Desk updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of TTD traded up $0.37 during trading hours on Friday, reaching $122.57. The company had a trading volume of 5,932,213 shares, compared to its average volume of 1,154,529. The company has a market capitalization of $5.24 billion, a PE ratio of 103.00, a P/E/G ratio of 4.62 and a beta of 3.16. Trade Desk has a 12-month low of $40.70 and a 12-month high of $161.50.
TTD has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of Trade Desk in a research report on Monday, October 8th. They set a “buy” rating and a $158.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective (up previously from $126.00) on shares of Trade Desk in a research report on Tuesday, September 25th. Oppenheimer increased their price target on shares of Trade Desk from $101.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Zacks Investment Research downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Citigroup increased their price target on shares of Trade Desk to $178.00 and gave the company a “buy” rating in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $118.53.
In related news, CFO Paul Ross sold 26,230 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $126.35, for a total value of $3,314,160.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas Falk sold 58,456 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $144.93, for a total transaction of $8,472,028.08. Following the completion of the sale, the director now directly owns 9,390 shares in the company, valued at $1,360,892.70. The disclosure for this sale can be found here. Insiders sold a total of 640,974 shares of company stock valued at $86,922,757 in the last quarter. Insiders own 26.87% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning acquired a new stake in Trade Desk in the 2nd quarter valued at about $294,000. LPL Financial LLC grew its stake in Trade Desk by 106.8% in the 1st quarter. LPL Financial LLC now owns 12,410 shares of the technology company’s stock valued at $616,000 after acquiring an additional 6,410 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Trade Desk in the 2nd quarter valued at about $1,615,000. Marshall Wace LLP grew its stake in Trade Desk by 1,264.5% in the 2nd quarter. Marshall Wace LLP now owns 68,961 shares of the technology company’s stock valued at $6,469,000 after acquiring an additional 63,907 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Trade Desk by 42.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 202,892 shares of the technology company’s stock valued at $19,033,000 after acquiring an additional 60,447 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
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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 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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