Harvest Fund Management Co. Ltd Has $3.83 Million Position in The Trade Desk (NASDAQ:TTD)

Key Points

• Harvest Fund Management Co. Ltd increased its holdings in The Trade Desk by 69.2%, purchasing an additional 28,579 shares to bring its total to 69,896 shares worth approximately $3.83 million.
• Trade Desk reported a 25.4% year-over-year revenue increase to $616.02 million for the latest quarter, surpassing analyst expectations and reporting $0.33 earnings per share, beating the consensus estimate by $0.07.
• Research analysts rate the stock as a "Moderate Buy" with an average price target of $98.73, with a total of twenty-six analysts assigning a buy rating to the stock.

Harvest Fund Management Co. Ltd raised its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 69.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,896 shares of the technology company's stock after purchasing an additional 28,579 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Trade Desk were worth $3,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new position in shares of Trade Desk during the fourth quarter valued at about $25,000. Banque Cantonale Vaudoise bought a new position in Trade Desk in the 1st quarter worth $26,000. Cloud Capital Management LLC bought a new position in shares of Trade Desk during the 1st quarter valued at about $27,000. von Borstel & Associates Inc. purchased a new stake in Trade Desk in the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management bought a new position in Trade Desk in the first quarter worth approximately $35,000. Institutional investors own 67.77% of the company's stock.

Trade Desk Trading Up 2.2%

TTD traded up $1.89 on Wednesday, reaching $86.42. The company had a trading volume of 6,005,236 shares, compared to its average volume of 14,434,882. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The company has a market capitalization of $42.47 billion, a P/E ratio of 105.39, a PEG ratio of 3.84 and a beta of 1.36. The company has a fifty day moving average of $74.89 and a 200-day moving average of $75.11.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm's revenue was up 25.4% compared to the same quarter last year. Research analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer directly owned 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TTD shares. Jefferies Financial Group set a $125.00 target price on shares of Trade Desk and gave the company a "buy" rating in a research note on Tuesday, April 29th. Citizens Jmp lowered their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. HSBC set a $75.00 price objective on shares of Trade Desk and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Oppenheimer increased their price target on shares of Trade Desk from $80.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Royal Bank Of Canada reduced their price objective on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $99.64.

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.