E Fund Management Co. Ltd. Purchases 5,152 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• E Fund Management Co. Ltd. increased its stake in The Trade Desk by 81%, acquiring an additional 5,152 shares, bringing its total holdings to 11,515 shares worth approximately $630,000.
• Shares of The Trade Desk are down 6.6%, closing at $50.76, significantly below its 12-month high of $141.53 and indicating a volatility in the stock's performance.
• Despite reporting strong revenue growth of 18.7% year-over-year, Trade Desk missed earnings expectations with $0.18 EPS compared to the consensus estimate of $0.42.

E Fund Management Co. Ltd. boosted its position in The Trade Desk (NASDAQ:TTD - Free Report) by 81.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,515 shares of the technology company's stock after purchasing an additional 5,152 shares during the period. E Fund Management Co. Ltd.'s holdings in Trade Desk were worth $630,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. boosted its stake in Trade Desk by 198.4% in the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after acquiring an additional 5,387,339 shares during the last quarter. Nuveen LLC purchased a new position in Trade Desk in the first quarter valued at about $191,935,000. Vanguard Group Inc. boosted its stake in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after acquiring an additional 1,567,491 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Trade Desk by 22.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,844,036 shares of the technology company's stock valued at $334,260,000 after acquiring an additional 523,627 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Trade Desk by 47.1% in the first quarter. Congress Asset Management Co. now owns 1,478,070 shares of the technology company's stock valued at $80,880,000 after acquiring an additional 473,132 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Trading Down 6.6%

Shares of Trade Desk stock traded down $3.60 on Thursday, hitting $50.76. 33,905,163 shares of the company traded hands, compared to its average volume of 21,893,096. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The firm's 50-day simple moving average is $74.61 and its 200 day simple moving average is $71.51. The company has a market cap of $24.95 billion, a P/E ratio of 61.16, a P/E/G ratio of 2.78 and a beta of 1.37.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.24). Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The business had revenue of $694.04 million for the quarter, compared to the consensus estimate of $686.00 million. During the same period in the prior year, the business posted $0.39 EPS. Trade Desk's revenue for the quarter was up 18.7% on a year-over-year basis. Analysts predict that The Trade Desk will post 1.06 earnings per share for the current year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $91.18, for a total transaction of $4,676,622.20. Following the transaction, the insider owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TTD. Piper Sandler dropped their price target on shares of Trade Desk from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Wedbush restated an "outperform" rating and set a $86.00 price target on shares of Trade Desk in a research note on Tuesday, July 15th. Hsbc Global Res cut shares of Trade Desk from a "strong-buy" rating to a "hold" rating in a research note on Monday. BMO Capital Markets set a $98.00 price target on shares of Trade Desk and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company cut shares of Trade Desk from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and an average price target of $89.33.

Trade Desk Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers 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.