Allianz SE Grows Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Allianz SE increased its stake in The Trade Desk by 268.0% during the first quarter, owning 8,132 shares valued at approximately $445,000.
• Analysts are optimistic about The Trade Desk, with multiple firms raising their price targets and issuing a strong buy rating, resulting in an average target price of $100.09.
• The Trade Desk reported earnings of $0.33 per share in its last quarter, exceeding expectations and reflecting a year-over-year revenue growth of 25.4%.

Allianz SE increased its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 268.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,132 shares of the technology company's stock after purchasing an additional 5,922 shares during the quarter. Allianz SE's holdings in Trade Desk were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TTD. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk during the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise bought a new position in shares of Trade Desk during the 1st quarter worth approximately $26,000. Cloud Capital Management LLC bought a new position in Trade Desk during the first quarter worth $27,000. von Borstel & Associates Inc. bought a new position in Trade Desk during the first quarter worth $31,000. Finally, Alpine Bank Wealth Management bought a new position in Trade Desk during the first quarter worth $35,000. Institutional investors own 67.77% of the company's stock.

Analysts Set New Price Targets

TTD has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $84.00 target price on shares of Trade Desk in a report on Friday, June 6th. DA Davidson dropped their price objective on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Evercore ISI raised shares of Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Friday, June 27th. JMP Securities restated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Finally, KeyCorp raised their price target on shares of Trade Desk from $80.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.73.

Trade Desk Stock Performance

TTD traded down $1.40 on Tuesday, reaching $88.36. The company had a trading volume of 1,751,832 shares, compared to its average volume of 10,046,449. The company has a market cap of $43.42 billion, a price-to-earnings ratio of 108.04, a P/E/G ratio of 3.91 and a beta of 1.37. The business has a 50 day simple moving average of $75.95 and a 200 day simple moving average of $73.88. The Trade Desk has a 52-week low of $42.96 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the business posted $0.26 EPS. The company's revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities research analysts predict that The Trade Desk will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director directly owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the transaction, the chief executive officer directly owned 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is owned by insiders.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.