The Trade Desk $TTD Position Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of The Trade Desk (NASDAQ:TTD) by 62.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,743 shares of the technology company’s stock after buying an additional 66,672 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trade Desk were worth $8,515,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TTD. Transce3nd LLC bought a new position in shares of Trade Desk during the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in Trade Desk in the 2nd quarter valued at about $28,000. Estabrook Capital Management acquired a new position in Trade Desk during the 2nd quarter valued at about $36,000. Family Legacy Financial Solutions LLC boosted its stake in Trade Desk by 163.2% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares during the period. Finally, Versant Capital Management Inc grew its position in Trade Desk by 175.8% in the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock worth $26,000 after purchasing an additional 334 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TTD. Citigroup cut their price target on Trade Desk from $50.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Exane BNP Paribas raised Trade Desk to a “hold” rating in a research note on Wednesday, January 14th. Jefferies Financial Group set a $40.00 price target on Trade Desk and gave the stock a “hold” rating in a research report on Thursday, December 11th. Benchmark raised Trade Desk from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, November 7th. Finally, Wedbush cut their price objective on shares of Trade Desk from $50.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.53.

Trade Desk Stock Performance

TTD opened at $30.33 on Friday. The company has a market capitalization of $14.67 billion, a PE ratio of 34.86, a P/E/G ratio of 1.23 and a beta of 1.11. The stock’s fifty day moving average is $37.25 and its 200-day moving average is $49.41. The Trade Desk has a one year low of $30.13 and a one year high of $125.80.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The business had revenue of $739.43 million during the quarter, compared to analysts’ expectations of $719.11 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Trade Desk Company 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.