The Trade Desk (NASDAQ:TTD) Stake Boosted by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in The Trade Desk by 6.1%, acquiring an additional 7,620 shares, bringing its total holdings to 133,409 shares valued at $7,320,000.
• Insider Jay R. Grant sold 51,290 shares of Trade Desk on August 7th, resulting in a 19.03% decrease in their ownership, while still retaining 218,246 shares valued at approximately $19.9 million.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and a price target averaging $88.58, as recent ratings from firms like Needham & Company maintain a “buy” while others adjusted to “neutral.”

Resona Asset Management Co. Ltd. increased its holdings in The Trade Desk (NASDAQ:TTD - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,409 shares of the technology company's stock after buying an additional 7,620 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Trade Desk were worth $7,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Investment Management Corp VA ADV purchased a new position in Trade Desk in the 4th quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Trade Desk during the 1st quarter worth about $26,000. Cloud Capital Management LLC purchased a new position in shares of Trade Desk during the 1st quarter worth about $27,000. von Borstel & Associates Inc. purchased a new position in shares of Trade Desk during the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Trade Desk during the 1st quarter worth about $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 51,290 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was 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 in the company, valued at $19,899,670.28. This trade represents a 19.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTD has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a report on Monday, August 11th. Piper Sandler cut their price objective on shares of Trade Desk from $65.00 to $64.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Rosenblatt Securities reiterated a "buy" rating on shares of Trade Desk in a report on Friday, August 8th. BTIG Research lowered shares of Trade Desk from a "buy" rating to a "neutral" rating in a report on Friday, August 8th. Finally, BMO Capital Markets set a $98.00 price objective on shares of Trade Desk and gave the stock an "outperform" rating in a report on Friday, August 8th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $88.58.

Trade Desk Stock Performance

Shares of TTD stock traded up $1.36 during mid-day trading on Friday, reaching $52.12. 17,824,420 shares of the company were exchanged, compared to its average volume of 18,021,956. The Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The company has a market capitalization of $25.61 billion, a P/E ratio of 62.80, a P/E/G ratio of 2.67 and a beta of 1.37. The business's 50 day simple moving average is $74.22 and its 200 day simple moving average is $70.68.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.24). Trade Desk had a return on equity of 15.19% and a net margin of 15.57%. The company had revenue of $694.04 million for the quarter, compared to analyst estimates of $686.00 million. During the same period in the previous year, the business posted $0.39 EPS. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. On average, analysts forecast that The Trade Desk will post 1.06 EPS 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.