Mitsubishi UFJ Asset Management Co. Ltd. Buys 40,796 Shares of The Trade Desk $TTD

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of The Trade Desk (NASDAQ:TTD) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 966,419 shares of the technology company’s stock after acquiring an additional 40,796 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Trade Desk were worth $36,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Trade Desk by 27.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock valued at $2,787,486,000 after buying an additional 12,321,000 shares in the last quarter. State Street Corp raised its position in shares of Trade Desk by 271.1% during the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock valued at $1,781,723,000 after buying an additional 26,559,005 shares in the last quarter. Invesco Ltd. raised its position in shares of Trade Desk by 101.0% during the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock valued at $333,659,000 after buying an additional 3,421,074 shares in the last quarter. Jericho Capital Asset Management L.P. raised its position in shares of Trade Desk by 86.3% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 4,067,000 shares of the technology company’s stock valued at $199,324,000 after buying an additional 1,884,000 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Trade Desk by 34.3% during the 3rd quarter. Northern Trust Corp now owns 3,893,963 shares of the technology company’s stock valued at $190,843,000 after buying an additional 993,739 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTD has been the topic of several recent research reports. Evercore set a $27.00 target price on shares of Trade Desk in a research report on Friday. Bank of America decreased their target price on shares of Trade Desk from $49.00 to $40.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 20th. UBS Group set a $31.00 target price on shares of Trade Desk and gave the company a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “hold” rating on shares of Trade Desk in a research report on Tuesday, March 17th. Finally, Arete Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and set a $25.00 price objective on the stock in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.79.

Trade Desk News Summary

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: Benchmark, Guggenheim, Needham, and other firms kept bullish ratings on TTD even after cutting price targets, suggesting analysts still see upside from current levels. Benchmark price target cut article
• Positive Sentiment: Despite the selloff, revenue growth remained solid, helped by AI-related launches, strategic partnerships, and continued strength in connected TV advertising. Zacks earnings article
• Neutral Sentiment: Trade Desk also held its annual stockholder meeting and approved directors and governance matters, which is not likely to move the stock much. Stockholder approval article
• Negative Sentiment: Multiple firms downgraded or cut targets after the weak guide, reinforcing concerns that ad-tech demand is slowing and agency-client uncertainty is weighing on the business. Analyst downgrades article
• Negative Sentiment: Commentary from Jim Cramer and other market coverage highlighted Trade Desk as a lagging name in digital advertising after the earnings miss, adding to bearish sentiment. Cramer red flag article

Insider Activity

In related news, Director Kathryn E. Falberg sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $30.48, for a total transaction of $1,524,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.41% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $23.00 on Friday. The Trade Desk has a 52-week low of $19.74 and a 52-week high of $91.45. The firm has a market capitalization of $10.95 billion, a P/E ratio of 26.14, a P/E/G ratio of 0.92 and a beta of 1.10. The stock has a 50 day moving average price of $23.73 and a 200 day moving average price of $32.86.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). Trade Desk had a return on equity of 16.68% and a net margin of 14.57%.The business had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. During the same period in the prior year, the business posted $0.33 earnings per share. Trade Desk’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Trade Desk will post 1.27 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 25th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.