Shaker Investments LLC OH lessened its holdings in shares of Trade Desk Inc (NASDAQ:TTD) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,605 shares of the technology company’s stock after selling 18,835 shares during the quarter. Trade Desk accounts for approximately 5.1% of Shaker Investments LLC OH’s portfolio, making the stock its 2nd largest position. Shaker Investments LLC OH owned about 0.13% of Trade Desk worth $8,240,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Creative Planning bought a new stake in shares of Trade Desk in the 2nd quarter worth $294,000. LPL Financial LLC grew its stake in shares of Trade Desk by 106.8% in the 1st quarter. LPL Financial LLC now owns 12,410 shares of the technology company’s stock worth $616,000 after acquiring an additional 6,410 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of Trade Desk in the 2nd quarter worth $1,615,000. Marshall Wace LLP grew its stake in shares of Trade Desk by 1,264.5% in the 2nd quarter. Marshall Wace LLP now owns 68,961 shares of the technology company’s stock worth $6,469,000 after acquiring an additional 63,907 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Trade Desk by 42.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 202,892 shares of the technology company’s stock worth $19,033,000 after acquiring an additional 60,447 shares in the last quarter. Institutional investors and hedge funds own 70.47% of the company’s stock.
Shares of NASDAQ:TTD traded up $6.16 during midday trading on Tuesday, reaching $115.28. The company had a trading volume of 1,211,376 shares, compared to its average volume of 1,323,452. The company has a market capitalization of $4.73 billion, a P/E ratio of 96.87, a price-to-earnings-growth ratio of 4.17 and a beta of 3.05. Trade Desk Inc has a 52-week low of $40.70 and a 52-week high of $161.50.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Tuesday, August 14th. Wells Fargo & Co reiterated a “hold” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Friday, August 10th. Oppenheimer upped their target price on shares of Trade Desk from $101.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Macquarie upgraded shares of Trade Desk to a “buy” rating and upped their target price for the stock from $95.00 to $130.00 in a research note on Friday, August 10th. Finally, Royal Bank of Canada upped their target price on shares of Trade Desk from $80.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $118.00.
In related news, insider Jeffrey Terry Green sold 450,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $135.56, for a total value of $61,002,000.00. Following the transaction, the insider now directly owns 506,178 shares of the company’s stock, valued at approximately $68,617,489.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Robert David Perdue sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $86.55, for a total transaction of $1,731,000.00. Following the completion of the transaction, the chief operating officer now directly owns 152,093 shares in the company, valued at $13,163,649.15. The disclosure for this sale can be found here. Insiders sold a total of 670,071 shares of company stock worth $89,623,372 over the last three months. 23.54% of the stock is owned by insiders.
Trade Desk Company Profile
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including connected TV, mobile, video, audio, display, social, and native on various devices, such as smart TVs, computers, and mobile phones and tablets.
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