BOCHK Asset Management Ltd Invests $3.44 Million in The Trade Desk, Inc. (NASDAQ:TTD)

BOCHK Asset Management Ltd purchased a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,400 shares of the technology company’s stock, valued at approximately $3,443,000. Trade Desk accounts for about 1.0% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Apella Capital LLC lifted its position in shares of Trade Desk by 1.9% during the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. Wealth Alliance lifted its holdings in Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after purchasing an additional 106 shares in the last quarter. Parisi Gray Wealth Management grew its position in shares of Trade Desk by 2.6% in the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after purchasing an additional 111 shares during the period. RFP Financial Group LLC increased its stake in shares of Trade Desk by 26.4% during the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after purchasing an additional 116 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in shares of Trade Desk by 6.2% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,123 shares of the technology company’s stock worth $233,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of several research reports. StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Benchmark raised their price objective on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 9th. Oppenheimer lifted their target price on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Robert W. Baird increased their target price on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Loop Capital boosted their price target on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.97.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at approximately $68,897,150.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 135,922 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is currently owned by company insiders.

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $0.60 during midday trading on Thursday, hitting $117.77. The company’s stock had a trading volume of 459,671 shares, compared to its average volume of 3,774,875. The firm has a market capitalization of $57.89 billion, a price-to-earnings ratio of 234.88, a price-to-earnings-growth ratio of 5.73 and a beta of 1.48. The business’s fifty day simple moving average is $108.37 and its two-hundred day simple moving average is $97.88. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $120.78.

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

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.