OP Asset Management Ltd Buys New Stake in The Trade Desk $TTD

OP Asset Management Ltd bought a new stake in shares of The Trade Desk (NASDAQ:TTD) during the first quarter, HoldingsChannel reports. The fund bought 43,680 shares of the technology company’s stock, valued at approximately $991,000.

Several other hedge funds also recently bought and sold shares of TTD. Elevation Wealth Partners LLC raised its holdings in shares of Trade Desk by 2,382.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock worth $27,000 after acquiring an additional 691 shares during the last quarter. Albion Financial Group UT purchased a new stake in Trade Desk during the 4th quarter worth about $30,000. CVA Family Office LLC raised its stake in Trade Desk by 62.1% in the 4th quarter. CVA Family Office LLC now owns 898 shares of the technology company’s stock valued at $34,000 after purchasing an additional 344 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Trade Desk in the 4th quarter valued at about $35,000. Finally, Binnacle Investments Inc purchased a new position in Trade Desk in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank set a $20.00 price target on shares of Trade Desk in a report on Monday, May 11th. Royal Bank Of Canada set a $33.00 price objective on shares of Trade Desk and gave the company an “outperform” rating in a research note on Friday, May 8th. William Blair lowered shares of Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Trade Desk in a research note on Tuesday, March 17th. Finally, Evercore set a $27.00 price target on Trade Desk in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.91.

Trade Desk Price Performance

NASDAQ TTD opened at $18.65 on Tuesday. The Trade Desk has a 12 month low of $16.98 and a 12 month high of $91.45. The company has a 50-day moving average of $21.11 and a 200-day moving average of $26.58. The company has a market cap of $8.77 billion, a P/E ratio of 21.19, a P/E/G ratio of 0.89 and a beta of 1.05.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.24). Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.The company had revenue of $688.86 million for the quarter, compared to analysts’ expectations of $678.87 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Trade Desk will post 1.17 EPS for the current year.

Insider Buying and Selling

In other Trade Desk news, Director Samantha Jacobson sold 53,681 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the transaction, the director owned 13,099 shares of the company’s stock, valued at $276,912.86. This trade represents a 80.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 11.41% of the company’s stock.

Trade Desk Profile

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.