The Trade Desk $TTD Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Trade Desk position by 77.9% in the second quarter, selling 302,099 shares and retaining 85,582 shares valued at approximately $1.55 million.
• Trade Desk reported quarterly EPS of $0.34, below the $0.40 analyst consensus, while revenue of $715.1 million also missed expectations of $752.4 million. Revenue increased 3% year over year.
• Analyst sentiment has weakened: Trade Desk has a consensus rating of “Reduce,” with 25 holds and 10 sells versus four buys, and an average price target of $19.36.

Engineers Gate Manager LP decreased its position in The Trade Desk (NASDAQ:TTD - Free Report) by 77.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,582 shares of the technology company's stock after selling 302,099 shares during the period. Engineers Gate Manager LP's holdings in Trade Desk were worth $1,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Deane Retirement Strategies Inc. acquired a new position in Trade Desk during the second quarter worth $2,101,000. Leonteq Securities AG purchased a new position in Trade Desk in the fourth quarter worth $2,768,000. Jefferies Financial Group Inc. lifted its holdings in Trade Desk by 180.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 94,303 shares of the technology company's stock valued at $3,580,000 after acquiring an additional 60,717 shares during the period. First Trust Advisors LP lifted its holdings in Trade Desk by 32.1% in the first quarter. First Trust Advisors LP now owns 1,448,758 shares of the technology company's stock valued at $32,872,000 after acquiring an additional 351,771 shares during the period. Finally, SEB Asset Management AB purchased a new stake in shares of Trade Desk during the 1st quarter worth $2,007,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Trade Desk stock opened at $14.49 on Thursday. 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. The Trade Desk has a fifty-two week low of $12.83 and a fifty-two week high of $56.39. The stock's fifty day moving average is $15.86 and its two-hundred day moving average is $19.81.

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 firm had revenue of $715.06 million during the quarter, compared to analysts' expectations of $752.41 million. Trade Desk had a net margin of 13.61% and a return on equity of 16.09%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. As a group, sell-side analysts forecast that The Trade Desk will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Trade Desk from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Moffett Nathanson set a $6.00 price objective on shares of Trade Desk in a research note on Friday, August 7th. Scotiabank set a $12.00 price objective on shares of Trade Desk and gave the stock a "sector perform" rating in a report on Friday, August 7th. Robert W. Baird set a $9.00 target price on shares of Trade Desk and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Susquehanna lowered shares of Trade Desk from a "positive" rating to a "neutral" rating and lowered their target price for the stock from $34.00 to $14.00 in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and ten have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Trade Desk has an average rating of "Reduce" and a consensus target price of $19.36.

Trade Desk Company 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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