Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,415 shares of the technology company’s stock after buying an additional 10,000 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Trade Desk were worth $12,871,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TTD. Price T Rowe Associates Inc. MD lifted its holdings in Trade Desk by 24.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 26,139,359 shares of the technology company’s stock worth $1,094,978,000 after acquiring an additional 5,052,749 shares during the period. Jennison Associates LLC lifted its holdings in Trade Desk by 11.9% during the second quarter. Jennison Associates LLC now owns 13,275,750 shares of the technology company’s stock worth $556,121,000 after acquiring an additional 1,414,232 shares during the period. Allianz Asset Management GmbH lifted its holdings in Trade Desk by 24.6% during the second quarter. Allianz Asset Management GmbH now owns 6,828,601 shares of the technology company’s stock worth $286,051,000 after acquiring an additional 1,346,293 shares during the period. Renaissance Technologies LLC lifted its holdings in Trade Desk by 62.2% during the second quarter. Renaissance Technologies LLC now owns 1,756,100 shares of the technology company’s stock worth $73,563,000 after acquiring an additional 673,700 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Trade Desk by 336.2% during the first quarter. First Trust Advisors LP now owns 643,929 shares of the technology company’s stock worth $44,592,000 after acquiring an additional 496,322 shares during the period. Hedge funds and other institutional investors own 67.04% of the company’s stock.

Trade Desk Stock Up 0.7 %

NASDAQ:TTD opened at $47.03 on Tuesday. The Trade Desk, Inc. has a 52 week low of $39.00 and a 52 week high of $86.88. The stock has a market capitalization of $23.02 billion, a PE ratio of -2,351.50, a price-to-earnings-growth ratio of 3.84 and a beta of 1.78. The stock’s 50-day moving average price is $47.30 and its 200-day moving average price is $53.02.

Trade Desk (NASDAQ:TTD – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $394.77 million for the quarter, compared to analysts’ expectations of $386.29 million. Trade Desk had a negative net margin of 0.66% and a negative return on equity of 0.57%. Sell-side analysts expect that The Trade Desk, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Oppenheimer dropped their price target on Trade Desk to $60.00 in a report on Tuesday, November 15th. Susquehanna lowered their target price on Trade Desk from $95.00 to $90.00 in a research note on Thursday, November 10th. Royal Bank of Canada lowered their target price on Trade Desk from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Jefferies Financial Group lowered Trade Desk from a “buy” rating to a “hold” rating and decreased their price objective for the company from $65.00 to $55.00 in a research note on Thursday, December 15th. They noted that the move was a valuation call. Finally, New Street Research initiated coverage on Trade Desk in a report on Wednesday, January 4th. They set a “neutral” rating and a $43.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $67.29.

About Trade Desk

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Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.