The Trade Desk (NASDAQ:TTD) Position Increased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in The Trade Desk by 19.4% during Q1, owning 596,282 shares valued at approximately $32.7 million.
• The Trade Desk reported a loss of $0.24 per share for the last quarter, missing analyst estimates, despite an 18.7% year-over-year revenue increase.
• Multiple analysts have revised their ratings on The Trade Desk, with Jefferies lowering it from "buy" to "hold" and revising the price target from $100 to $50.

Russell Investments Group Ltd. increased its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 596,282 shares of the technology company's stock after acquiring an additional 96,680 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Trade Desk worth $32,735,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TTD. Vanguard Group Inc. raised its stake in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after buying an additional 1,567,491 shares in the last quarter. Brown Advisory Inc. increased its position in Trade Desk by 198.4% in the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after acquiring an additional 5,387,339 shares during the period. Bank of America Corp DE increased its position in Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after acquiring an additional 418,911 shares during the period. Nuveen LLC purchased a new stake in Trade Desk in the 1st quarter valued at approximately $191,935,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Trade Desk by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,375,266 shares of the technology company's stock valued at $396,696,000 after purchasing an additional 99,634 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the transaction, the insider owned 218,246 shares in the company, valued at $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.00% of the company's stock.

Trade Desk Trading Up 2.7%

TTD traded up $1.36 on Friday, hitting $52.12. 17,824,420 shares of the company's stock were exchanged, compared to its average volume of 18,021,956. The firm has a market cap of $25.61 billion, a PE ratio of 62.80, a P/E/G ratio of 2.67 and a beta of 1.37. The Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The stock has a fifty day moving average of $74.22 and a two-hundred day moving average of $70.68.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. During the same quarter in the previous year, the business posted $0.39 EPS. Trade Desk's revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $90.00 price objective (down previously from $100.00) on shares of Trade Desk in a report on Friday, August 8th. Citizens Jmp reduced their target price on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Citigroup reiterated a "neutral" rating and issued a $65.00 price target (down from $90.00) on shares of Trade Desk in a report on Friday, August 8th. Moffett Nathanson downgraded Trade Desk from a "neutral" rating to a "sell" rating and set a $45.00 price objective for the company. in a report on Friday, August 8th. Finally, Rosenblatt Securities restated a "buy" rating on shares of Trade Desk in a report on Friday, August 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, Trade Desk currently has an average rating of "Hold" and a consensus target price of $88.58.

Trade Desk 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.