Principal Financial Group Inc. Has $20.03 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Principal Financial Group Inc. trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD) by 17.5% during the third quarter, Holdings Channel reports. The firm owned 182,700 shares of the technology company’s stock after selling 38,632 shares during the quarter. Principal Financial Group Inc.’s holdings in Trade Desk were worth $20,033,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC grew its position in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Trade Desk by 194.5% during the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after buying an additional 247 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Quarry LP bought a new position in Trade Desk during the second quarter worth about $41,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Trade Desk in the 3rd quarter worth about $51,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the sale, the chief financial officer now directly owns 693,953 shares in the company, valued at $80,102,994.79. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 527,583 shares of company stock worth $59,648,359 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TTD shares. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Citigroup raised their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Loop Capital increased their target price on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Susquehanna reissued a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a research note on Thursday, November 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of Trade Desk in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.07.

Trade Desk Trading Down 0.4 %

Shares of NASDAQ:TTD opened at $123.46 on Friday. The Trade Desk, Inc. has a 12 month low of $61.47 and a 12 month high of $141.53. The stock has a market cap of $60.94 billion, a P/E ratio of 202.39, a P/E/G ratio of 6.00 and a beta of 1.43. The company has a 50 day moving average of $126.34 and a 200 day moving average of $109.99.

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.