The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 815 shares of the technology company’s stock after selling 200 shares during the period. Salem Investment Counselors Inc.’s holdings in Trade Desk were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TTD. Baillie Gifford & Co. increased its stake in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Jennison Associates LLC boosted its position in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC grew its stake in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Trade Desk by 10.5% during the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the period. Finally, FMR LLC lifted its holdings in Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after purchasing an additional 32,999 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Moffett Nathanson began coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Wells Fargo & Company upped their target price on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial lifted their price target on Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Finally, Wedbush boosted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.76.

Trade Desk Stock Performance

Shares of TTD opened at $116.76 on Wednesday. The firm has a market cap of $57.63 billion, a PE ratio of 191.41, a PEG ratio of 6.00 and a beta of 1.45. The firm’s 50 day moving average price is $126.71 and its 200 day moving average price is $112.27. The Trade Desk, Inc. has a twelve month low of $61.47 and a twelve month high of $141.53.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction 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 sale, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,086 shares of company stock worth $4,654,466 in the last 90 days. 9.72% of the stock is owned by insiders.

Trade Desk 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.