The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by First Hawaiian Bank

First Hawaiian Bank decreased its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,440 shares of the technology company's stock after selling 13,515 shares during the period. First Hawaiian Bank's holdings in Trade Desk were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Invesco Ltd. boosted its holdings in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after buying an additional 198,822 shares in the last quarter. Norges Bank purchased a new stake in Trade Desk during the fourth quarter worth about $524,187,000. FMR LLC boosted its holdings in Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after buying an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Trade Desk by 13.2% during the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock worth $422,150,000 after buying an additional 418,911 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on TTD shares. Macquarie boosted their price objective on shares of Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. UBS Group decreased their price objective on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Morgan Stanley boosted their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Stifel Nicolaus reduced their price target on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Insider Buying and Selling

In other news, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Trade Desk Price Performance

TTD stock traded down $0.45 on Monday, hitting $74.77. 3,907,154 shares of the company were exchanged, compared to its average volume of 6,040,810. The Trade Desk, Inc. has a twelve month low of $42.96 and a twelve month high of $141.53. The business's fifty day moving average is $59.81 and its two-hundred day moving average is $90.01. The stock has a market capitalization of $36.74 billion, a price-to-earnings ratio of 95.86, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

About Trade Desk

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.