Taikang Asset Management Hong Kong Co Ltd Sells 75,964 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Taikang Asset Management Hong Kong Co Ltd cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,964 shares of the technology company’s stock after selling 75,964 shares during the period. Trade Desk comprises approximately 1.3% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its 20th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Trade Desk were worth $8,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TTD. Lyell Wealth Management LP grew its position in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB grew its position in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Trade Desk by 3.3% in the 3rd 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 worth $231,294,000 after purchasing an additional 68,206 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock worth $8,255,000 after purchasing an additional 51,603 shares during the period. Finally, Independent Solutions Wealth Management LLC lifted its position in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after purchasing an additional 11,181 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald reduced their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. BMO Capital Markets lowered their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their price objective on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley dropped their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $59.34 on Tuesday. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 76.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The stock has a 50 day moving average price of $89.97 and a 200-day moving average price of $109.60. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Trade Desk Company 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.