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 $1.21 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.
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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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 13.99 million shares of the company’s stock, all valued at over $1.01 billion. The company bought an additional 11824.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.14 million shares to see its total holdings shrink to 9.65 million shares valued at over $694.6 million and representing 2.16% 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 $642.18 million. Vanguard US Growth Fund now owns shares totaling to 2.00% of the shares outstanding.
However, the script later moved the day high at 71.68, up 1.14%. The company’s stock has a 5-day price change of 10.07% and -5.24% over the past three months. TTD shares are trading -2.47% year to date (YTD), with the 12-month market performance up to 54.00% higher. It has a 12-month low price of $45.21 and touched a high of $91.85 over the same period. TTD has an average intraday trading volume of 5.44 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 1.03%, 0.25%, and -4.80% respectively.
Institutional ownership of Trade Desk Inc (NASDAQ: TTD) shares accounts for 68.77% of the company’s 446.46M shares outstanding. Mutual fund holders own 29.04%, while other institutional holders and individual stakeholders account for 46.67% and 2.34% respectively.
It has a market capitalization of $34.41B and a beta (3y monthly) value of 1.50. The stock’s trailing 12-month PE ratio is 229.87, while the earnings-per-share (ttm) stands at $0.31. The company has a PEG of 9.58 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 4.15% over the week and 3.07% over the month.
Analysts forecast that Trade Desk Inc (TTD) will achieve an EPS of $0.43 for the current quarter, $0.18 for the next quarter and $1.42 for 2024. The lowest estimate earnings-per-share for the quarter is $0.37 while analysts give the company a high EPS estimate of $0.54. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 17.71%, and 13.32% 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.
Looking at the support for the TTD, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on January 17, 2024, with the firm’s price target at $73-$80.
