Nikko Asset Management Americas Inc. Decreases Stake in The Trade Desk $TTD

Nikko Asset Management Americas Inc. cut its holdings in The Trade Desk (NASDAQ:TTD) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 927,016 shares of the technology company’s stock after selling 26,662 shares during the period. Nikko Asset Management Americas Inc. owned about 0.19% of Trade Desk worth $66,717,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its position in Trade Desk by 3.8% in the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company’s stock valued at $539,000 after acquiring an additional 169 shares during the last quarter. Bison Wealth LLC boosted its position in shares of Trade Desk by 24.3% in the 4th quarter. Bison Wealth LLC now owns 2,480 shares of the technology company’s stock valued at $291,000 after purchasing an additional 485 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Trade Desk by 3.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,188 shares of the technology company’s stock worth $776,000 after buying an additional 408 shares during the last quarter. Trivium Point Advisory LLC lifted its stake in Trade Desk by 99.0% in the first quarter. Trivium Point Advisory LLC now owns 3,910 shares of the technology company’s stock valued at $214,000 after buying an additional 1,945 shares during the last quarter. Finally, Element Capital Management LLC acquired a new stake in shares of Trade Desk in the first quarter valued at approximately $2,538,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC cut their target price on shares of Trade Desk from $84.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. JMP Securities set a $60.00 price target on Trade Desk and gave the stock a “market outperform” rating in a report on Tuesday, September 30th. Evercore ISI reduced their price objective on Trade Desk from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Finally, Wall Street Zen raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Twenty-one investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.56.

Trade Desk Trading Down 1.0%

Shares of TTD stock opened at $36.65 on Friday. The Trade Desk has a 12-month low of $36.51 and a 12-month high of $136.42. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The stock has a 50 day simple moving average of $45.48 and a 200-day simple moving average of $58.23.

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

Trade Desk announced that its board has approved a share buyback program on Thursday, November 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are 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.