National Pension Service Purchases 242,866 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• The National Pension Service increased its stake in The Trade Desk (NASDAQ:TTD) by 19.2%, owning approximately 1.5 million shares worth $82.5 million after purchasing an additional 242,866 shares.
• Several major investors, including Vanguard Group and Brown Advisory, have also significantly raised their holdings in The Trade Desk during the first quarter of the year, contributing to institutional investors owning 67.77% of the company's stock.
• The Trade Desk's recent earnings report showed a miss on EPS estimates, reporting $0.18 compared to the consensus of $0.42, despite a revenue increase of 18.7% year-over-year.

National Pension Service boosted its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 19.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,507,851 shares of the technology company's stock after buying an additional 242,866 shares during the quarter. National Pension Service owned approximately 0.30% of Trade Desk worth $82,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Trade Desk by 3.8% during the 4th quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after purchasing an additional 169 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Trade Desk by 1.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 43,438 shares of the technology company's stock worth $5,105,000 after purchasing an additional 602 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Trade Desk in the 4th quarter worth $351,000. Bridgewater Associates LP bought a new stake in Trade Desk in the fourth quarter valued at about $1,423,000. Finally, Anchor Investment Management LLC increased its stake in Trade Desk by 17.2% in the fourth quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company's stock valued at $120,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 51,290 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 218,246 shares of the company's stock, valued at approximately $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Trade Desk from a "hold" rating to a "sell" rating in a research report on Saturday. Hsbc Global Res lowered shares of Trade Desk from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group downgraded shares of Trade Desk from a "buy" rating to a "hold" rating and dropped their price target for the stock from $100.00 to $50.00 in a research note on Monday, August 11th. Truist Financial boosted their price target on shares of Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Citizens Jmp decreased their price objective on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of "Hold" and an average price target of $88.58.

Trade Desk Price Performance

NASDAQ TTD traded up $1.36 on Friday, hitting $52.12. 17,824,420 shares of the stock were exchanged, compared to its average volume of 18,021,956. The business's fifty day moving average is $74.22 and its 200 day moving average is $70.68. The Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The company has a market capitalization of $25.61 billion, a PE ratio of 62.80, a P/E/G ratio of 2.67 and a beta of 1.37.

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

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.