Sumitomo Mitsui Trust Group Inc. Boosts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Sumitomo Mitsui Trust Group Inc. raised its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,843,481 shares of the technology company’s stock after purchasing an additional 93,562 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Trade Desk were worth $216,664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTD. Baillie Gifford & Co. grew its stake in shares of Trade Desk by 4.7% in the third 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 in the last quarter. Jennison Associates LLC grew its stake in shares of Trade Desk by 11.0% in the third 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 in the last quarter. Edgewood Management LLC grew its stake in shares of Trade Desk by 133.3% in the third 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 in the last quarter. FMR LLC grew its stake in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after buying an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares in 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 a number of research reports. Stifel Nicolaus lifted their price objective on Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank initiated coverage on Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 target price for the company. Citigroup boosted their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, Macquarie upped their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company insiders.

Trade Desk Price Performance

Trade Desk stock opened at $117.29 on Friday. The firm has a market cap of $57.89 billion, a price-to-earnings ratio of 192.28, a P/E/G ratio of 3.75 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $68.65 and a fifty-two week high of $141.53. The firm has a fifty day moving average price of $124.40 and a two-hundred day moving average price of $114.68.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $619.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.87 earnings per share 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.