Zurcher Kantonalbank Zurich Cantonalbank Purchases 9,840 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Trade Desk by 6.8%, owning 155,063 shares valued at approximately $8.5 million as of the latest reporting period.
• Several analysts have rated Trade Desk stock positively, with a consensus rating of "Moderate Buy" and a price target averaging around $99.64.
• Trade Desk reported a 25.4% increase in revenue year-over-year, with an EPS of $0.33, exceeding analysts' expectations of $0.26.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,063 shares of the technology company's stock after purchasing an additional 9,840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Trade Desk were worth $8,485,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Brown Advisory Inc. lifted its stake in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after buying an additional 5,387,339 shares in the last quarter. Invesco Ltd. raised its holdings in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after acquiring an additional 198,822 shares during the period. FMR LLC raised its holdings in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the period. Bank of America Corp DE raised its holdings in Trade Desk by 13.2% during the fourth 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. Finally, Price T Rowe Associates Inc. MD raised its holdings in Trade Desk by 3.0% during the fourth 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 acquiring an additional 99,634 shares during the period. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have commented on TTD. Royal Bank Of Canada raised their price target on Trade Desk from $85.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday. Stifel Nicolaus raised their price target on Trade Desk from $87.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. DA Davidson reduced their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Truist Financial lifted their target price on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $86.00 target price on shares of Trade Desk in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and an average target price of $100.09.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $0.88 during trading hours on Friday, hitting $86.08. 9,973,566 shares of the company's stock traded hands, compared to its average volume of 14,718,176. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The business has a fifty day moving average price of $75.63 and a 200-day moving average price of $74.76. The firm has a market capitalization of $42.30 billion, a P/E ratio of 104.98, a price-to-earnings-growth ratio of 3.95 and a beta of 1.36.

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

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.