The Trade Desk, Inc. (NASDAQ:TTD) Stake Cut by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 19.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 217,646 shares of the technology company’s stock after selling 52,217 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Trade Desk were worth $23,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after purchasing an additional 97 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in Trade Desk by 6.6% during the third quarter. Mediolanum International Funds Ltd now owns 33,807 shares of the technology company’s stock valued at $3,694,000 after buying an additional 2,098 shares in the last quarter. Canal Capital Management LLC bought a new position in shares of Trade Desk in the third quarter worth about $219,000. Dakota Wealth Management increased its stake in shares of Trade Desk by 5.5% in the third quarter. Dakota Wealth Management now owns 17,366 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 904 shares during the period. Finally, BOCHK Asset Management Ltd bought a new position in Trade Desk during the third quarter valued at about $3,443,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

TTD stock opened at $119.47 on Friday. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $121.44. The firm has a 50-day moving average of $109.08 and a 200 day moving average of $98.33. The company has a market cap of $58.44 billion, a P/E ratio of 298.68, a PEG ratio of 5.73 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities research analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Laura Schenkein sold 3,130 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $68,930,351.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Laura Schenkein sold 3,130 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $68,930,351.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total value of $14,097,829.84. Following the transaction, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,557,897 shares of company stock valued at $170,121,565. Company insiders own 10.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TTD shares. Macquarie boosted their price target on Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Morgan Stanley lifted their price objective on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Benchmark boosted their target price on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 9th. Finally, Moffett Nathanson started coverage on Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $112.97.

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.