Fmr LLC Boosts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Fmr LLC increased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,616,203 shares of the technology company’s stock after buying an additional 32,999 shares during the quarter. Fmr LLC’s holdings in Trade Desk were worth $286,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk in the 2nd quarter valued at about $30,000. EdgeRock Capital LLC purchased a new position in shares of Trade Desk in the second quarter worth $37,000. Avior Wealth Management LLC raised its holdings in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Quarry LP purchased a new stake in Trade Desk during the 2nd quarter valued at $41,000. Finally, Brown Lisle Cummings Inc. grew its holdings in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. The trade was a 26.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 20,579 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the transaction, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This trade represents a 10.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,128,938 shares of company stock worth $125,534,054 over the last quarter. Company insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TTD shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a report on Monday, October 7th. Oppenheimer increased their price objective on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group boosted their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC lifted their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 price objective (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Stock Performance

TTD opened at $128.55 on Monday. The company’s 50-day simple moving average is $119.46 and its two-hundred day simple moving average is $105.30. The stock has a market capitalization of $63.45 billion, a P/E ratio of 210.74, a P/E/G ratio of 5.83 and a beta of 1.47. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $132.65.

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.