CIBC Asset Management Inc lifted its stake in The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,260 shares of the technology company’s stock after acquiring an additional 2,944 shares during the quarter. CIBC Asset Management Inc’s holdings in Trade Desk were worth $21,191,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in TTD. Allworth Financial LP increased its holdings in Trade Desk by 2.7% in the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after acquiring an additional 97 shares in the last quarter. Apella Capital LLC lifted its stake in shares of Trade Desk by 1.9% during the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. HM Payson & Co. boosted its holdings in Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after buying an additional 102 shares during the period. Wealth Alliance raised its holdings in Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after acquiring an additional 106 shares during the period. Finally, Parisi Gray Wealth Management lifted its position in shares of Trade Desk by 2.6% in the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after acquiring an additional 111 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on TTD shares. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Benchmark reaffirmed a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Susquehanna increased their target price on Trade Desk from $135.00 to $150.00 and gave the company a “positive” rating in a research report on Friday, November 8th. KeyCorp increased their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Macquarie increased their price objective on shares of Trade Desk from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $122.65.
Trade Desk Trading Down 6.1 %
Shares of Trade Desk stock opened at $118.15 on Friday. The Trade Desk, Inc. has a twelve month low of $61.47 and a twelve month high of $132.65. The firm’s 50-day moving average price is $115.25 and its 200 day moving average price is $102.49. The firm has a market capitalization of $58.08 billion, a PE ratio of 193.69, a P/E/G ratio of 6.07 and a beta of 1.47.
Insider Transactions at Trade Desk
In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $80,102,994.79. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,548,289 shares of company stock valued at $169,165,185 over the last ninety days. Insiders own 9.72% of the company’s stock.
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.
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