Mirae Asset Global Investments Co. Ltd. Lowers Position in The Trade Desk, Inc. (NASDAQ:TTD)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 20.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,701 shares of the technology company’s stock after selling 43,945 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trade Desk were worth $20,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TTD. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after acquiring an additional 1,558,465 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Trade Desk by 55.3% during the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after acquiring an additional 551,925 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 0.7 %

TTD stock opened at $114.34 on Thursday. The company’s 50 day moving average is $124.67 and its 200 day moving average is $114.68. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 187.44, a price-to-earnings-growth ratio of 3.75 and a beta of 1.45. The Trade Desk, Inc. has a 1-year low of $67.77 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. The company had revenue of $628.02 million during the quarter, compared to the consensus estimate of $619.89 million. During the same period in the previous year, the company earned $0.08 EPS. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Loop Capital increased their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Benchmark reaffirmed a “sell” rating and issued a $57.00 price objective on shares of Trade Desk in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

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.