The Trade Desk, Inc. (NASDAQ:TTD) is BOCHK Asset Management Ltd’s 9th Largest Position

BOCHK Asset Management Ltd increased its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 271.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,600 shares of the technology company’s stock after purchasing an additional 85,200 shares during the quarter. Trade Desk makes up approximately 4.2% of BOCHK Asset Management Ltd’s holdings, making the stock its 9th largest holding. BOCHK Asset Management Ltd’s holdings in Trade Desk were worth $13,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Edgewood Management LLC grew its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the period. Jennison Associates LLC grew its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the period. Baillie Gifford & Co. grew its holdings in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. International Assets Investment Management LLC grew its holdings in Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Trade Desk by 55.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after buying an additional 551,925 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TTD shares. Benchmark restated a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Scotiabank assumed coverage on Trade Desk in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 price objective on the stock. Evercore ISI lifted their price objective on Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Monday, October 7th. Finally, Oppenheimer lifted their price objective on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $133.13.

Trade Desk Stock Up 1.2 %

Shares of TTD opened at $120.56 on Wednesday. The business’s 50 day moving average is $125.89 and its two-hundred day moving average is $113.95. The Trade Desk, Inc. has a 52-week low of $66.56 and a 52-week high of $141.53. The firm has a market cap of $59.51 billion, a price-to-earnings ratio of 197.64, a PEG ratio of 3.82 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. The business had revenue of $628.02 million during the quarter, compared to analyst estimates of $619.89 million. During the same period in the previous year, the company earned $0.08 earnings per share. On average, equities analysts expect that The Trade Desk, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 512,953 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $124.67, for a total transaction of $63,949,850.51. Following the completion of the transaction, the chief executive officer now directly owns 243,476 shares in the company, valued at $30,354,152.92. This represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction 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 transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 549,684 shares of company stock worth $68,444,576. 9.72% of the stock is currently owned by insiders.

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.