Geode Capital Management LLC Increases Stake in The Trade Desk Inc. (TTD)

Geode Capital Management LLC raised its stake in The Trade Desk Inc. (NASDAQ:TTD) by 56.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,761 shares of the technology company’s stock after buying an additional 30,879 shares during the period. Geode Capital Management LLC owned 0.22% of The Trade Desk worth $3,194,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Engineers Gate Manager LP boosted its stake in The Trade Desk by 55.5% in the first quarter. Engineers Gate Manager LP now owns 67,533 shares of the technology company’s stock valued at $2,516,000 after buying an additional 24,092 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in The Trade Desk by 169.4% in the first quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock valued at $1,184,000 after buying an additional 19,992 shares during the last quarter. Wells Fargo & Company MN boosted its stake in The Trade Desk by 21.5% in the first quarter. Wells Fargo & Company MN now owns 45,036 shares of the technology company’s stock valued at $1,677,000 after buying an additional 7,972 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in The Trade Desk during the first quarter valued at about $24,823,000. Finally, Whittier Trust Co. purchased a new stake in The Trade Desk during the first quarter valued at about $103,000. 53.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Trade Desk Inc. (TTD) traded down 0.65% during midday trading on Monday, hitting $49.19. 221,221 shares of the company’s stock were exchanged. The firm has a market cap of $2.01 billion and a PE ratio of 45.42. The stock’s 50-day moving average price is $52.15 and its 200 day moving average price is $44.47. The Trade Desk Inc. has a one year low of $22.00 and a one year high of $57.87.

The Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.29. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The company had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.02 million. The business’s quarterly revenue was up 54.2% on a year-over-year basis. Equities research analysts forecast that The Trade Desk Inc. will post $1.44 EPS for the current year.

Several research firms recently issued reports on TTD. Zacks Investment Research upgraded shares of The Trade Desk from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a research report on Thursday. SunTrust Banks, Inc. began coverage on shares of The Trade Desk in a research report on Tuesday, August 15th. They set a “hold” rating and a $55.00 price objective for the company. Susquehanna Bancshares Inc restated a “positive” rating and set a $66.00 price objective (up from $60.00) on shares of The Trade Desk in a research report on Monday, August 14th. Citigroup Inc. restated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Trade Desk in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of The Trade Desk in a research report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The Trade Desk presently has a consensus rating of “Buy” and a consensus price target of $56.00.

In related news, CFO Paul Ross sold 10,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $54.16, for a total transaction of $541,600.00. Following the completion of the sale, the chief financial officer now owns 47,819 shares of the company’s stock, valued at approximately $2,589,877.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Randall Pickles sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $52.74, for a total transaction of $3,955,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,939,884 shares of company stock valued at $251,064,987. Corporate insiders own 26.87% of the company’s stock.

The Trade Desk Company Profile

The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.