First Hawaiian Bank Sells 1,755 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

First Hawaiian Bank decreased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,205 shares of the technology company’s stock after selling 1,755 shares during the period. First Hawaiian Bank’s holdings in Trade Desk were worth $1,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTD. Vanguard Group Inc. increased its position in shares of Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. Jennison Associates LLC increased its position in shares of Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares during the period. Norges Bank purchased a new position in shares of Trade Desk during the fourth quarter worth approximately $255,316,000. 1832 Asset Management L.P. purchased a new position in Trade Desk during the first quarter valued at approximately $225,710,000. Finally, Jericho Capital Asset Management L.P. increased its holdings in Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after buying an additional 100,000 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TTD shares. Susquehanna restated a “positive” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Morgan Stanley lifted their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Oppenheimer lifted their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Loop Capital lifted their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $101.17.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,909 shares of company stock worth $20,827,601. Company insiders own 10.18% of the company’s stock.

Trade Desk Price Performance

Shares of TTD traded up $0.14 during mid-day trading on Monday, reaching $83.22. The stock had a trading volume of 5,740,892 shares, compared to its average volume of 4,135,667. The business’s fifty day moving average is $95.97 and its 200 day moving average is $86.83. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $102.67. The firm has a market cap of $40.71 billion, a price-to-earnings ratio of 208.06, a P/E/G ratio of 4.26 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

About Trade Desk

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.