Following The Money: Institution’s Growing Stake In The Trade Desk Inc. (NASDAQ: TTD)

BlackRock Fund Advisors has recently announced that it has increased stake in The Trade Desk Inc. (NASDAQ:TTD) by 3.05%. After grabbing 16.74 million shares, the institutional investor is now in possession of 0.5 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.76% having worth around $1.53 billion. Moreover, T. Rowe Price Investment Manageme increased its share by 0.34 million to have a control over 14.8 million shares. And Geode Capital Management LLC raised its holdings to 0.18 million shares by acquiring 6.42 million shares or 1.44% of the stake.

The Trade Desk Inc. (TTD) concluded trading on 09/14/23 at a closing price of $85.37, with 3.14 million shares of worth about $267.75 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 54.96% during that period and on Thursday the price saw a gain of about 0.05%. Currently the company’s common shares owned by public are about 488.43M shares, out of which, 441.58M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 32 analysts are covering the TTD stock and their offered price forecasts bring an average price target of $86.98. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $105.00 and could fall to a lowest price of $28.00. The stock’s current price level is 0.87% above of average price target set by the analysts, while a rise to estimated low would result in loss of -204.89% for the stock. However, touching the estimated high of $105.00 would mean a gain of 18.7% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 101 times over the past 12 months. They bought 795,501 shares in 22 of the transactions. In 79 selling transactions, insiders dumped 697,550 shares.

Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard US Growth Fund are the top 3 mutual funds which are holding stakes in The Trade Desk Inc. Vanguard Total Stock Market ETF is currently holding 13.84 million shares of worth totaling $1.26 billion. The company recently came selling 15175.0 shares which brought its stake up to 3.11% of the company’s outstanding shares. Vanguard Mid Cap Index Fund sold -0.37 million shares, after which its hold over company’s outstanding shares shrunk to 2.24%, leaving 9.94 million shares with the mutual fund that have a worth of about $907.47 million. Vanguard US Growth Fund, after buying 9.6 million shares, have now control over 2.16% of the stake in the company. It holds 0.0 shares of worth $876.31 million.

The Trade Desk Inc. (NASDAQ: TTD) started trading at $85.68, above $0.35 from concluding price of the previous day. However, the stock later moved at a day high price of 85.89, or with a gain of 0.05%. Stock saw a price change of 1.26% in past 5 days and over the past one month there was a price change of 15.85%. Year-to-date (YTD), TTD shares are showing a performance of 90.43% which increased to 33.70% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $39.43 but also hit the highest price of $91.85 during that period. The average intraday trading volume for The Trade Desk Inc. shares is 4.22 million. The stock is currently trading 8.19% above its 20-day simple moving average (SMA20), while that difference is up 4.71% for SMA50 and it goes to 32.90% higher than SMA200.

BlackRock Fund Advisors acquired 16.74 million shares of The Trade Desk Inc. having value of about $1.53 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.5 million shares in the company valued at close to $42320128.62, or have control over 3.05% stake in the company. The Trade Desk Inc. (NASDAQ: TTD) currently have 488.43M outstanding shares and institutions hold larger chunk of about 77.20% of that. Holding of mutual funds in the company is about 29.62% while other institutional holders and individual stake holders have control over 47.38% and 2.42% of the stake respectively.

The stock has a current market capitalization of $42.06B and its 3Y-monthly beta is at 1.71. PE ratio of stock for trailing 12 months is 344.23, while it has posted earnings per share of $0.25 in the same period. Its PEG reads 14.34 and has Quick Ratio of 1.90 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TTD, volatility over the week remained 2.73% while standing at 3.13% over the month.

Analysts are in expectations that The Trade Desk Inc. (TTD) stock would likely to be making an EPS of $0.29 in the current quarter, while forecast for next quarter EPS is $0.44 and it is $1.49 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.24 which is $0.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -61.40% while it is estimated to increase by 19.94% in next year. EPS is likely to grow at an annualized rate of 24.00% for next 5-years, compared to annual growth of -1.80% made by the stock over the past 5-years.

Analysts at 32 brokerage firms have issued recommendations for the The Trade Desk Inc. (TTD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 32 Wall Street analysts, 20 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.