Nikko Asset Management Americas Inc. Has $52.15 Million Stake in The Trade Desk (NASDAQ:TTD)

Key Points

• Nikko Asset Management Americas Inc. increased its stake in The Trade Desk by 18.1% in the first quarter, now owning approximately $52.15 million in shares.
• The Trade Desk reported a 25.4% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $0.33, surpassing estimates.
• Insider trading activity includes CEO Jeffrey Green selling 26,684 shares, representing a 61.06% decrease in his ownership of the stock.

Nikko Asset Management Americas Inc. grew its position in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 953,678 shares of the technology company's stock after buying an additional 146,199 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.19% of Trade Desk worth $52,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Mediolanum International Funds Ltd lifted its holdings in Trade Desk by 105.3% in the 1st quarter. Mediolanum International Funds Ltd now owns 81,493 shares of the technology company's stock worth $4,551,000 after purchasing an additional 41,806 shares during the last quarter. Caliber Wealth Management LLC KS acquired a new stake in Trade Desk in the 1st quarter worth approximately $279,000. Freemont Management S.A. acquired a new stake in Trade Desk in the 1st quarter worth approximately $2,501,000. Pacer Advisors Inc. lifted its holdings in Trade Desk by 255.0% in the 1st quarter. Pacer Advisors Inc. now owns 82,810 shares of the technology company's stock worth $4,531,000 after purchasing an additional 59,484 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Trade Desk in the 1st quarter worth approximately $1,410,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

Shares of TTD stock opened at $86.14 on Friday. The stock's fifty day simple moving average is $74.50 and its 200 day simple moving average is $75.89. The firm has a market cap of $42.33 billion, a price-to-earnings ratio of 105.05, a P/E/G ratio of 3.86 and a beta of 1.36. The Trade Desk has a one year low of $42.96 and a one year high of $141.53.

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

Analyst Ratings Changes

TTD has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Trade Desk from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday. Citizens Jmp dropped their price target on Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Jefferies Financial Group set a $125.00 price target on Trade Desk and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating and issued a $86.00 price target on shares of Trade Desk in a research report on Tuesday, July 15th. Finally, Morgan Stanley lifted their price target on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $98.73.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of the 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 sale, the chief executive officer owned 17,018 shares in the company, valued at approximately $1,361,950.54. This 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 is accessible through this link. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction on 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 sale, the director owned 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.