Mirae Asset Global Investments Co. Ltd. Reduces Holdings in The Trade Desk (NASDAQ:TTD)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 20.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,458 shares of the technology company's stock after selling 36,243 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Trade Desk were worth $7,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTD. Centurion Wealth Management LLC lifted its stake in shares of Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock worth $443,000 after acquiring an additional 96 shares during the period. Great Lakes Advisors LLC increased its position in Trade Desk by 1.7% during the 4th quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company's stock valued at $817,000 after purchasing an additional 116 shares during the period. Douglass Winthrop Advisors LLC raised its holdings in Trade Desk by 2.7% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock worth $525,000 after purchasing an additional 117 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Trade Desk by 8.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company's stock worth $226,000 after purchasing an additional 133 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in shares of Trade Desk by 4.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 3,714 shares of the technology company's stock worth $437,000 after purchasing an additional 144 shares during the period. Institutional investors own 67.77% of the company's stock.

Trade Desk Trading Down 0.4%

Shares of TTD traded down $0.30 during trading hours on Wednesday, reaching $73.19. 1,136,390 shares of the stock traded hands, compared to its average volume of 6,329,313. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 89.29, a PEG ratio of 3.30 and a beta of 1.36. The stock has a fifty day simple moving average of $68.55 and a 200 day simple moving average of $81.21.

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

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's 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 directly owned 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David B. Wells sold 28,638 shares of the 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 owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TTD shares. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a research report on Friday, June 6th. HSBC set a $75.00 price target on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citizens Jmp dropped their price objective on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Oppenheimer upped their target price on Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Wedbush reissued an "outperform" rating and issued a $86.00 price target (up from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of "Moderate Buy" and a consensus target price of $97.27.

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.