Gulf International Bank UK Ltd Trims Stock Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Gulf International Bank UK Ltd reduced its stake in The Trade Desk by 25.9%, owning 25,811 shares valued at $1,412,000 after selling 9,016 shares during the first quarter.
• Insider Jay R. Grant sold 51,290 shares at an average price of $91.18, resulting in a 19.03% decrease in their ownership.
• The Trade Desk reported $0.18 EPS for the last quarter, missing estimates, while revenue increased 18.7% year-over-year to $694.04 million.

Gulf International Bank UK Ltd cut its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,811 shares of the technology company's stock after selling 9,016 shares during the quarter. Gulf International Bank UK Ltd's holdings in Trade Desk were worth $1,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. S Bank Fund Management Ltd bought a new position in shares of Trade Desk during the first quarter valued at approximately $96,000. National Pension Service boosted its stake in shares of Trade Desk by 19.2% during the first quarter. National Pension Service now owns 1,507,851 shares of the technology company's stock valued at $82,510,000 after purchasing an additional 242,866 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Trade Desk by 19.4% during the first quarter. Russell Investments Group Ltd. now owns 596,282 shares of the technology company's stock valued at $32,735,000 after purchasing an additional 96,680 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Trade Desk by 6.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 133,409 shares of the technology company's stock valued at $7,320,000 after purchasing an additional 7,620 shares in the last quarter. Finally, Rathbones Group PLC boosted its stake in shares of Trade Desk by 292.6% during the first quarter. Rathbones Group PLC now owns 20,538 shares of the technology company's stock valued at $1,124,000 after purchasing an additional 15,307 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jay R. Grant sold 51,290 shares of the firm's 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 completion of the transaction, the insider owned 218,246 shares of the company's stock, valued at $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is currently owned by company insiders.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $52.12 on Friday. The firm has a fifty day moving average price of $74.22 and a 200 day moving average price of $71.04. The Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a market cap of $25.61 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 2.60 and a beta of 1.37.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Trade Desk from $80.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price objective on shares of Trade Desk from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Guggenheim dropped their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada dropped their price objective on shares of Trade Desk from $100.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Trade Desk from a "hold" rating to a "sell" rating in a research note on Saturday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $88.58.

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.

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