Hsbc Holdings PLC Buys 62,672 Shares of The Trade Desk $TTD

Hsbc Holdings PLC raised its stake in The Trade Desk (NASDAQ:TTD) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,635 shares of the technology company’s stock after acquiring an additional 62,672 shares during the period. Hsbc Holdings PLC owned approximately 0.23% of Trade Desk worth $24,737,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Nicholas Company Inc. boosted its position in shares of Trade Desk by 14.3% during the 4th quarter. Nicholas Company Inc. now owns 1,016,743 shares of the technology company’s stock worth $38,596,000 after acquiring an additional 127,049 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in Trade Desk by 272.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 68,607 shares of the technology company’s stock valued at $2,604,000 after purchasing an additional 50,209 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Trade Desk by 235.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 588,250 shares of the technology company’s stock worth $22,330,000 after purchasing an additional 412,842 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Trade Desk by 21.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 308,982 shares of the technology company’s stock worth $11,729,000 after purchasing an additional 54,037 shares during the last quarter. Finally, Fulcrum Capital LLC acquired a new stake in shares of Trade Desk in the 4th quarter valued at $2,604,000. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Down 2.1%

Trade Desk stock opened at $18.25 on Wednesday. The company has a market capitalization of $8.58 billion, a PE ratio of 20.74, a P/E/G ratio of 0.90 and a beta of 1.04. The Trade Desk has a 12 month low of $16.98 and a 12 month high of $91.45. The stock has a 50-day moving average price of $19.78 and a two-hundred day moving average price of $24.50.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results 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 firm had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts predict that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, Director Samantha Jacobson sold 53,681 shares of the business’s 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 sale, the director directly owned 13,099 shares of the company’s stock, valued at $276,912.86. The trade was a 80.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TTD shares. HSBC raised Trade Desk from a “reduce” rating to a “hold” rating and set a $20.00 price target for the company in a report on Wednesday, July 8th. Rothschild & Co Redburn initiated coverage on Trade Desk in a research report on Thursday, May 28th. They issued a “sell” rating and a $11.00 target price on the stock. Weiss Ratings downgraded Trade Desk from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, June 16th. William Blair cut shares of Trade Desk from an “outperform” rating to a “market perform” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company set a $20.00 price target on shares of Trade Desk and gave the company an “equal weight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.43.

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.