BlackRock Fund Advisors recently announced the acquisition of new stake in Trade Desk Inc (NASDAQ:TTD). The institutional investor has increased its shareholding in the Technology company by 0.83% to 16.88 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 3.78% valued currently at $1.19 billion. In addition, JPMorgan Investment Management, I raised its holdings by 0.56 million to 16.72 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.11% or 0.28 million shares – to 9.14 million shares.
With over 3.68 million Trade Desk Inc (TTD) shares trading Tuesday and a closing price of $73.59 on the day, the dollar volume was approximately $270.61 million. The shares have shown a negative half year performance of -4.14% and its price on 12/26/23 gained nearly 0.22%. Currently, there are 446.46M common shares owned by the public and among those 441.69M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 35 analysts who have offered their price forecasts for TTD have a consensus price objective of $75.36. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $30.00. The average price target is 2.35% above its recent price level and a downside to the estimated low will see the stock lose -145.3% over that period. But an upside of 26.41% will see the stock hit the forecast high price target while median target price for the stock is $79.50.
Insiders at the company have transacted a total of 133 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 1,869,581 shares. Insider sales of the common stock occurred on 105 occasions, with total insider shares sold totaling 2,190,009 shares.
The top 3 mutual fund holders in Trade Desk Inc are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard US Growth Fund. Vanguard Total Stock Market ETF owns 13.98 million shares of the company’s stock, all valued at over $984.8 million. The company bought an additional 17091.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard Mid Cap Index Fund bought 33158.0 shares to see its total holdings expand to 9.78 million shares valued at over $689.26 million and representing 2.19% of the shares outstanding. Vanguard US Growth Fund sold -0.68 million shares to bring its total holdings to over 8.92 million shares at a value of $628.79 million. Vanguard US Growth Fund now owns shares totaling to 2.00% of the shares outstanding.
Shares of Trade Desk Inc (NASDAQ: TTD) opened at $73.68, up $0.25 from a prior closing price of $73.43. However, the script later moved the day high at 73.82, up 0.22%. The company’s stock has a 5-day price change of -2.70% and -1.05% over the past three months. TTD shares are trading 64.15% year to date (YTD), with the 12-month market performance up to 63.90% higher. It has a 12-month low price of $41.20 and touched a high of $91.85 over the same period. TTD has an average intraday trading volume of 5.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.07%, 2.13%, and 1.12% respectively.
Institutional ownership of Trade Desk Inc (NASDAQ: TTD) shares accounts for 68.40% of the company’s 446.46M shares outstanding. Mutual fund holders own 29.18%, while other institutional holders and individual stakeholders account for 46.17% and 2.34% respectively.
It has a market capitalization of $36.08B and a beta (3y monthly) value of 1.54. The stock’s trailing 12-month PE ratio is 241.04, while the earnings-per-share (ttm) stands at $0.31. The company has a PEG of 10.04 and a Quick Ratio of 1.87 with the debt-to-equity ratio at 0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.08% over the week and 3.21% over the month.
Analysts forecast that Trade Desk Inc (TTD) will achieve an EPS of $TTD/BRX for the current quarter, $0.71 for the next quarter and $Currency for Type. The lowest estimate earnings-per-share for the quarter is $TTD/GBP while analysts give the company a high EPS estimate of $TTD/USD. Comparatively, EPS for the current quarter was $Toronto Dominion Bank (The) a year ago. Earnings per share for the fiscal year are expected to increase by 21.86%, and 12.34% over the next financial year. EPS should grow at an annualized rate of 24.00% over the next five years, compared to -1.47% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 35 brokerage firm advisors rate Trade Desk Inc (TTD) as a “Strong Buy” at a consensus score of 1.83. Specifically, 23 Wall Street analysts polled rate the stock as a buy, while 6 of the 35 advise that investors “hold,” and 3 rated it as a “Sell.”
