Renaissance Technologies LLC Has $123.45 Million Holdings in The Trade Desk $TTD

Renaissance Technologies LLC grew its position in shares of The Trade Desk (NASDAQ:TTD) by 59.0% in the 1st quarter, Holdings Channel reports. The firm owned 5,440,541 shares of the technology company’s stock after acquiring an additional 2,018,525 shares during the quarter. Renaissance Technologies LLC’s holdings in Trade Desk were worth $123,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT bought a new stake in Trade Desk during the fourth quarter valued at $30,000. Root Financial Partners LLC boosted its position in shares of Trade Desk by 219.4% during the 1st quarter. Root Financial Partners LLC now owns 1,319 shares of the technology company’s stock valued at $30,000 after purchasing an additional 906 shares in the last quarter. CVA Family Office LLC grew its stake in Trade Desk by 62.1% during the fourth quarter. CVA Family Office LLC now owns 898 shares of the technology company’s stock worth $34,000 after purchasing an additional 344 shares during the period. Bayforest Capital Ltd acquired a new stake in Trade Desk during the fourth quarter worth approximately $35,000. Finally, Ascentis Independent Advisors bought a new stake in Trade Desk in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $17.29 on Friday. The company has a 50-day moving average price of $19.57 and a 200-day moving average price of $24.16. The stock has a market capitalization of $8.13 billion, a P/E ratio of 19.65, a P/E/G ratio of 0.84 and a beta of 1.04. The Trade Desk has a 1 year low of $16.70 and a 1 year high of $91.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The company had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts anticipate that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TTD. Benchmark reaffirmed a “buy” rating on shares of Trade Desk in a research report on Tuesday, June 16th. KeyCorp cut shares of Trade Desk from an “overweight” rating to a “sector weight” rating in a report on Friday, May 8th. Truist Financial set a $35.00 price target on shares of Trade Desk and gave the company a “buy” rating in a research note on Friday, May 8th. DA Davidson set a $29.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Citigroup reissued a “neutral” rating on shares of Trade Desk in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Hold” and an average target price of $33.43.

Insider Activity

In related news, Director Samantha Jacobson sold 53,681 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the completion of the sale, the director owned 13,099 shares in the company, valued at approximately $276,912.86. This represents a 80.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.41% of the stock is currently owned by insiders.

Trade Desk Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.