The Trade Desk (NASDAQ:TTD) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in The Trade Desk by 1.7%, now holding approximately 0.08% of the company, valued at around $21 million.
• The Trade Desk's stock price decreased by 2.0%, closing at $53.17, with analysts predicting an average EPS of 1.06 for the current year.
• Insider trading activity included notable sales by directors, with the most significant being a sale of 28,638 shares by Director David B. Wells, representing a 29.95% decrease in his ownership.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its stake in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 384,609 shares of the technology company's stock after selling 6,459 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Trade Desk worth $21,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Investment Management Corp VA ADV purchased a new stake in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in Trade Desk in the first quarter valued at approximately $26,000. Cloud Capital Management LLC acquired a new position in Trade Desk during the first quarter worth $27,000. von Borstel & Associates Inc. purchased a new position in shares of Trade Desk during the first quarter worth $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Trade Desk in the first quarter valued at $35,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Activity

In other news, insider Jay R. Grant sold 51,290 shares of the business'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 approximately $19,899,670.28. The trade was a 19.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.00% of the company's stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating on shares of Trade Desk in a report on Friday. BTIG Research downgraded shares of Trade Desk from a "buy" rating to a "neutral" rating in a research note on Friday. BMO Capital Markets set a $98.00 price target on Trade Desk and gave the company an "outperform" rating in a research note on Friday. Needham & Company LLC reissued a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a report on Monday. Finally, Morgan Stanley upped their target price on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.33.

Trade Desk Trading Up 0.2%

NASDAQ TTD traded up $0.10 during trading hours on Tuesday, reaching $53.27. 24,980,018 shares of the company traded hands, compared to its average volume of 22,969,036. The stock has a market capitalization of $26.18 billion, a PE ratio of 64.18, a PEG ratio of 2.74 and a beta of 1.37. The Trade Desk has a 12 month low of $42.96 and a 12 month high of $141.53. The company has a 50 day moving average of $75.45 and a two-hundred day moving average of $72.10.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.57% and a return on equity of 15.19%. The firm had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. During the same quarter in the previous year, the company earned $0.39 EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk Company 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.