OVERSEA CHINESE BANKING Corp Ltd Buys 16,535 Shares of The Trade Desk (NASDAQ:TTD)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in The Trade Desk by 420.7% in the first quarter, owning 20,465 shares valued at $1.12 million.
• Multiple institutional investors, including Brown Advisory Inc and FMR LLC, have significantly increased their holdings in The Trade Desk, with 67.77% of the stock now owned by these entities.
• CEO Jeffrey Terry Green sold 26,684 shares of The Trade Desk, resulting in a 61.06% decrease in his ownership, raising questions about insider confidence in the stock.

OVERSEA CHINESE BANKING Corp Ltd raised its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 420.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,465 shares of the technology company's stock after purchasing an additional 16,535 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Trade Desk were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Trade Desk during the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new position in Trade Desk during the 1st quarter valued at about $26,000. Cloud Capital Management LLC acquired a new position in Trade Desk during the 1st quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new position in Trade Desk during the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management acquired a new position in Trade Desk during the 1st quarter valued at about $35,000. Institutional investors own 67.77% of the company's stock.

Trade Desk Price Performance

Shares of NASDAQ TTD traded down $0.88 during trading hours on Friday, hitting $86.08. 9,973,566 shares of the stock were exchanged, compared to its average volume of 15,217,046. The company's 50 day moving average is $75.63 and its 200 day moving average is $74.12. The firm has a market capitalization of $42.30 billion, a P/E ratio of 104.98, a P/E/G ratio of 3.91 and a beta of 1.37. 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 posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on Monday, May 12th. The shares were 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 approximately $1,361,950.54. This represents a 61.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director directly owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TTD shares. Arete Research raised shares of Trade Desk to a "strong sell" rating in a research note on Monday, July 28th. Truist Financial upped 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. Citigroup reaffirmed a "buy" rating on shares of Trade Desk in a research note on Tuesday, July 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $84.00 price target on shares of Trade Desk in a research note on Friday, June 6th. Finally, Morgan Stanley upped their price target on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $100.09.

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.