The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 31.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,838,998 shares of the technology company's stock after buying an additional 438,733 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.38% of Trade Desk worth $132,334,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $100,508,000. ARK Investment Management LLC boosted its holdings in Trade Desk by 1,162.0% in the 4th quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company's stock worth $154,689,000 after buying an additional 1,979,319 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Trade Desk during the 3rd quarter worth approximately $99,035,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Trade Desk by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,367,719 shares of the technology company's stock worth $599,275,000 after purchasing an additional 1,239,936 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Trade Desk by 74.2% during the 1st quarter. Bank of America Corp DE now owns 2,853,174 shares of the technology company's stock worth $173,787,000 after purchasing an additional 1,215,662 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 2,999 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $62.76, for a total value of $188,217.24. Following the completion of the transaction, the director now directly owns 36,312 shares of the company's stock, valued at $2,278,941.12. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Gokul Rajaram sold 2,999 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $62.76, for a total value of $188,217.24. Following the sale, the director now directly owns 36,312 shares in the company, valued at $2,278,941.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 2,136 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $89.53, for a total transaction of $191,236.08. Following the completion of the sale, the insider now owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 492,569 shares of company stock worth $41,213,950. Company insiders own 10.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTD. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Trade Desk in a report on Thursday, March 21st. KeyCorp boosted their target price on Trade Desk from $84.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. Stifel Nicolaus boosted their target price on Trade Desk from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Stephens restated an "overweight" rating and set a $85.00 target price on shares of Trade Desk in a report on Friday, February 16th. Finally, BTIG Research lifted their price target on shares of Trade Desk from $91.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.75.

Trade Desk Trading Up 1.4 %

Shares of TTD stock traded up $1.14 on Tuesday, reaching $82.13. 2,871,566 shares of the stock were exchanged, compared to its average volume of 4,647,597. The business's 50 day moving average price is $82.43 and its 200 day moving average price is $75.60. The company has a market capitalization of $40.16 billion, a price-to-earnings ratio of 228.15, a PEG ratio of 4.76 and a beta of 1.50. The Trade Desk, Inc. has a twelve month low of $59.36 and a twelve month high of $94.00.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.05). Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. The company had revenue of $605.80 million during the quarter, compared to analyst estimates of $582.61 million. Equities research analysts forecast that The Trade Desk, Inc. will post 0.79 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.