The Trade Desk $TTD Shares Bought by Tidal Investments LLC

Key Points

• Tidal Investments increased its Trade Desk stake by 148% in the second quarter, acquiring 72,888 additional shares to hold 122,121 shares valued at approximately $2.21 million.
• Trade Desk reported quarterly revenue of $715.1 million and earnings of $0.34 per share, missing analyst expectations of $752.4 million in revenue and $0.40 EPS, while revenue still rose 3% year over year.
• The stock opened at $14.49, well below its 52-week high of $56.39. Analysts’ consensus rating is “Reduce,” with a consensus price target of $19.36, amid mostly Hold ratings and several recent target-price cuts.

Tidal Investments LLC raised its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 148.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,121 shares of the technology company's stock after acquiring an additional 72,888 shares during the period. Tidal Investments LLC's holdings in Trade Desk were worth $2,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TTD. Archford Capital Strategies LLC acquired a new position in shares of Trade Desk during the 2nd quarter worth approximately $326,000. Integrated Wealth Concepts LLC grew its holdings in Trade Desk by 84.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,351 shares of the technology company's stock valued at $296,000 after buying an additional 7,480 shares during the last quarter. RFG Advisory LLC grew its holdings in Trade Desk by 37.9% during the 2nd quarter. RFG Advisory LLC now owns 115,773 shares of the technology company's stock valued at $2,093,000 after buying an additional 31,821 shares during the last quarter. NewEdge Advisors LLC increased its position in Trade Desk by 91.4% during the second quarter. NewEdge Advisors LLC now owns 72,221 shares of the technology company's stock worth $1,306,000 after buying an additional 34,484 shares in the last quarter. Finally, Nykredit A S purchased a new position in Trade Desk during the second quarter worth $318,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $14.49 on Thursday. The Trade Desk has a one year low of $12.83 and a one year high of $56.39. The company has a 50 day moving average price of $15.86 and a 200 day moving average price of $19.81. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.73 and a beta of 1.01.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The company had revenue of $715.06 million during the quarter, compared to analyst estimates of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. As a group, equities analysts forecast that The Trade Desk will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTD. Needham & Company LLC reduced their price objective on Trade Desk from $25.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Benchmark reissued a "buy" rating and issued a $20.00 target price (down from $30.00) on shares of Trade Desk in a research note on Monday, August 3rd. Weiss Ratings restated a "sell (d)" rating on shares of Trade Desk in a report on Friday, September 11th. Scotiabank set a $12.00 price target on shares of Trade Desk and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Finally, Wolfe Research reiterated an "outperform" rating and set a $16.00 price target on shares of Trade Desk in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and ten have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $19.36.

Trade Desk Profile

The Trade Desk, Inc is a technology company that provides a self-service, cloud-based platform for digital advertising. Its platform enables advertising agencies and brands to plan, purchase, optimize and measure data-driven advertising campaigns across multiple channels and devices.

The company's platform supports programmatic buying for display, video, connected television, audio, native and other forms of digital media. Its services are designed to help advertisers use audience data, automation and analytics to reach targeted consumers while managing campaigns across a range of publishers and media environments.

The Trade Desk was founded in 2009 by Jeff Green and Dave Pickles.

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