AIA Group Ltd Sells 21,902 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

AIA Group Ltd trimmed its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 34.9% in the 1st quarter, HoldingsChannel reports. The firm owned 40,809 shares of the technology company’s stock after selling 21,902 shares during the quarter. AIA Group Ltd’s holdings in Trade Desk were worth $3,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Csenge Advisory Group boosted its position in shares of Trade Desk by 1.8% during the 1st quarter. Csenge Advisory Group now owns 7,869 shares of the technology company’s stock valued at $688,000 after acquiring an additional 141 shares during the last quarter. Level Financial Advisors Inc. boosted its position in shares of Trade Desk by 50.0% during the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Trade Desk by 1.6% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 9,292 shares of the technology company’s stock valued at $669,000 after acquiring an additional 150 shares during the last quarter. Fiduciary Trust Co boosted its position in shares of Trade Desk by 1.1% during the 4th quarter. Fiduciary Trust Co now owns 13,800 shares of the technology company’s stock valued at $993,000 after acquiring an additional 150 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its position in shares of Trade Desk by 0.7% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 23,577 shares of the technology company’s stock valued at $2,061,000 after acquiring an additional 153 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the sale, the director now owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the completion of the transaction, the director now owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The disclosure for this sale can be found here. Insiders have sold a total of 365,154 shares of company stock valued at $33,638,976 over the last quarter. 10.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup increased their target price on Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 target price (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Stifel Nicolaus increased their price target on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Trade Desk in a report on Tuesday. Finally, Susquehanna restated a “positive” rating and set a $110.00 price target on shares of Trade Desk in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.69.

Trade Desk Stock Performance

TTD stock traded up $0.91 during trading on Friday, reaching $99.48. 3,159,384 shares of the company traded hands, compared to its average volume of 4,152,989. The Trade Desk, Inc. has a 12 month low of $60.23 and a 12 month high of $102.67. The business has a 50 day simple moving average of $95.28 and a 200 day simple moving average of $84.04. The company has a market capitalization of $48.66 billion, a price-to-earnings ratio of 248.71, a price-to-earnings-growth ratio of 5.11 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The company had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. As a group, research analysts forecast that The Trade Desk, Inc. will post 0.85 EPS for the current 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.