The Trade Desk, Inc. (NASDAQ:TTD) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 59.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,930 shares of the technology company’s stock after purchasing an additional 1,459 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Trade Desk were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the 4th quarter worth approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TTD. Truist Financial reduced their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Morgan Stanley reduced their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Robert W. Baird reduced their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Price Performance

TTD opened at $55.85 on Friday. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53. The company’s 50 day simple moving average is $92.39 and its 200-day simple moving average is $110.12. The stock has a market capitalization of $27.71 billion, a P/E ratio of 71.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.