Brookstone Capital Management decreased its position in The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,285 shares of the technology company’s stock after selling 345 shares during the period. Brookstone Capital Management’s holdings in Trade Desk were worth $504,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in TTD. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% during 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 acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Trade Desk by 133.3% during the 3rd 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 during the last quarter. 1832 Asset Management L.P. grew 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 worth $278,623,000 after buying an additional 270,800 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after buying an additional 32,999 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TTD. KeyCorp raised their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Evercore ISI raised their price objective on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush upped their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Morgan Stanley raised their price target on Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Citigroup upped their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.55.
Insider Activity at Trade Desk
In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. 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 over the last ninety days. 9.72% of the stock is currently owned by corporate insiders.
Trade Desk Stock Performance
Shares of TTD stock opened at $124.42 on Friday. The Trade Desk, Inc. has a 1 year low of $63.63 and a 1 year high of $141.53. The firm has a market capitalization of $61.41 billion, a PE ratio of 203.97, a price-to-earnings-growth ratio of 3.76 and a beta of 1.45. The stock has a fifty day moving average of $126.30 and a two-hundred day moving average of $112.70.
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.
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