Accurate Wealth Management LLC has disclosed its acquisition of 1,753 shares of The Trade Desk stock (TTD:NSD) in the fourth quarter, according to its latest filing with the Securities and Exchange Commission. The stake was valued at approximately $79,000.
Other institutional investors and hedge funds have also increased or decreased their positions in the company. Deutsche Bank AG increased its position by 1.6% in the second quarter, while Creative Planning and Strategic Wealth Advisors Group LLC boosted their positions by 5.3% and 13.1%, respectively, in the same quarter. B. Metzler seel. Sohn & Co. AG raised its stake by 17.1% in the second quarter.
In addition, Ontario Teachers Pension Plan Board acquired a new position in Trade Desk in the third quarter. Currently, hedge funds and institutional investors own 67.04% of Trade Desk stock.
Trade Desk Stock-Analyst Ratings:
Several equities research analysts have recently issued reports on Trade Desk’s stock. Vertical Research downgraded the stock from “positive” to “neutral,” while Jefferies Financial Group lowered its rating from “buy” to “hold” and reduced its target price from $65 to $55 in December.
Guggenheim, on the other hand, raised its target price from $50 to $75 and maintained its “buy” rating in February. Piper Sandler initiated coverage on the stock and issued an “overweight” rating with a target price of $60.
Needham & Company LLC also reiterated its “buy” rating with a target price of $68. Currently, Trade Desk stock has an average rating of “Buy” and an average price target of $63.69, according to Stock Target Advisor.
Trade Desk Stock Price Analysis:
Trade Desk’s stock opened at $59.24 on Wednesday, with a 50-day simple moving average of $53.35 and a 200-day simple moving average of $52.82.
The company has a market capitalization of $29.07 billion, a PE ratio of 592.46, a price-to-earnings-growth ratio of 5.22, and a beta of 1.83. Its 12-month low is $39.00, while its 12-month high is $76.75.
Quarterly Earnings Review:
In its latest earnings report on February 15th, the company reported $0.14 earnings per share, missing analysts’ estimates of $0.17 by $0.03. It posted revenue of $490.74 million for the quarter, compared to the consensus estimate of $491.24 million.
The company had a return on equity of 2.86% and a net margin of 3.38%. Analysts predict that Trade Desk stock will post earnings per share of $0.47 for the current fiscal year.
Company Profile:
The Trade Desk, Inc. operates as a technology company in the United States and internationally.
The company operates 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.
It also provides data and other value-added services. The company serves advertising agencies, brands, and other service providers for advertisers. The Trade Desk, Inc. was incorporated in 2009 and is headquartered in Ventura, California.
