45,700 Shares in The Trade Desk (NASDAQ:TTD) Acquired by Freemont Management S.A.

Key Points

• Freemont Management S.A. purchased a significant stake of 45,700 shares in The Trade Desk, valued at approximately $2.5 million, during the first quarter.
• Several hedge funds have also increased their holdings in The Trade Desk, with institutional investors currently owning 67.77% of the stock.
• The Trade Desk reported earnings of $0.33 per share for the last quarter, surpassing expectations and showing a 25.4% year-over-year revenue growth to $616.02 million.

Freemont Management S.A. bought a new stake in The Trade Desk (NASDAQ:TTD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 45,700 shares of the technology company's stock, valued at approximately $2,501,000.

Several other hedge funds have also bought and sold shares of TTD. Brighton Jones LLC increased its holdings in shares of Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock worth $539,000 after purchasing an additional 169 shares during the period. TIAA Trust National Association boosted its position in shares of Trade Desk by 892.3% during the 4th quarter. TIAA Trust National Association now owns 22,902 shares of the technology company's stock worth $2,692,000 after acquiring an additional 20,594 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Trade Desk by 34.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,245 shares of the technology company's stock worth $969,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Korea Investment CORP boosted its position in shares of Trade Desk by 4.5% during the 4th quarter. Korea Investment CORP now owns 317,940 shares of the technology company's stock worth $37,367,000 after acquiring an additional 13,747 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $1.14 during mid-day trading on Friday, reaching $86.14. 6,028,690 shares of the company's stock traded hands, compared to its average volume of 14,512,962. The stock has a market cap of $42.33 billion, a P/E ratio of 105.05, a PEG ratio of 3.86 and a beta of 1.36. The business has a 50-day simple moving average of $74.30 and a 200 day simple moving average of $76.13. The Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. During the same period in the previous year, the company earned $0.26 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TTD shares. JMP Securities restated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a research report on Tuesday, June 24th. Citizens Jmp cut their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada cut their target price on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. HSBC set a $75.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $84.00 price target on shares of Trade Desk in a report on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.73.

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.