The Trade Desk Inc. (TTD) Holdings Cut by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its position in The Trade Desk Inc. (NASDAQ:TTD) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096,505 shares of the technology company’s stock after selling 99,540 shares during the quarter. The Trade Desk comprises 1.1% of Sumitomo Mitsui Asset Management Company LTD’s investment portfolio, making the stock its 19th biggest position. Sumitomo Mitsui Asset Management Company LTD owned about 2.69% of The Trade Desk worth $67,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors raised its position in shares of The Trade Desk by 181.5% during the 1st quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after buying an additional 1,824 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of The Trade Desk by 169.4% during the 1st quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock valued at $1,184,000 after buying an additional 19,992 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of The Trade Desk during the 1st quarter valued at $952,000. American International Group Inc. purchased a new stake in shares of The Trade Desk during the 1st quarter valued at $126,000. Finally, FMR LLC raised its position in shares of The Trade Desk by 2,598.3% during the 1st quarter. FMR LLC now owns 1,397,700 shares of the technology company’s stock valued at $52,064,000 after buying an additional 1,345,900 shares in the last quarter. Institutional investors and hedge funds own 63.08% of the company’s stock.

In other news, CFO Paul Ross sold 3,705 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $63.33, for a total value of $234,637.65. Following the transaction, the chief financial officer now directly owns 53,451 shares in the company, valued at $3,385,051.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Terry Green sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $53.84, for a total transaction of $484,560.00. Following the completion of the transaction, the insider now owns 130,885 shares in the company, valued at $7,046,848.40. The disclosure for this sale can be found here. In the last three months, insiders sold 245,409 shares of company stock worth $13,751,102. Insiders own 26.87% of the company’s stock.

Several research firms recently commented on TTD. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $66.00 target price on shares of The Trade Desk in a report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price (up previously from $57.00) on shares of The Trade Desk in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 target price (up previously from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. Vetr raised shares of The Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.92 target price on the stock in a report on Tuesday, October 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price (up previously from $56.00) on shares of The Trade Desk in a report on Friday, August 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.63.

Shares of The Trade Desk Inc. (TTD) traded down 0.14% during midday trading on Monday, reaching $63.88. 243,708 shares of the company’s stock were exchanged. The stock has a market cap of $2.61 billion and a PE ratio of 58.98. The stock’s 50 day moving average is $61.68 and its 200-day moving average is $61.68. The Trade Desk Inc. has a 12-month low of $22.00 and a 12-month high of $67.30.

The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The business had revenue of $72.80 million for the quarter, compared to the consensus estimate of $68.02 million. The company’s quarterly revenue was up 54.2% on a year-over-year basis. On average, equities analysts expect that The Trade Desk Inc. will post $1.43 EPS for the current year.

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About The Trade Desk

The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.

Institutional Ownership by Quarter for The Trade Desk (NASDAQ:TTD)

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