The Trade Desk, Inc. (NASDAQ:TTD) Position Reduced by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC reduced its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 51.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 299,802 shares of the technology company’s stock after selling 312,000 shares during the quarter. Trade Desk comprises 1.0% of Summit Partners Public Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Summit Partners Public Asset Management LLC owned about 0.06% of Trade Desk worth $32,873,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Swedbank AB acquired a new stake in Trade Desk during the first quarter valued at approximately $15,999,000. PGGM Investments lifted its position in shares of Trade Desk by 53.0% during the 1st quarter. PGGM Investments now owns 17,955 shares of the technology company’s stock valued at $1,570,000 after acquiring an additional 6,222 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Trade Desk by 175.0% during the 1st quarter. Cetera Investment Advisers now owns 142,702 shares of the technology company’s stock valued at $12,475,000 after acquiring an additional 90,818 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Trade Desk by 152.2% during the 1st quarter. Cetera Advisors LLC now owns 41,593 shares of the technology company’s stock worth $3,636,000 after acquiring an additional 25,098 shares in the last quarter. Finally, Soltis Investment Advisors LLC grew its holdings in shares of Trade Desk by 16.6% in the 1st quarter. Soltis Investment Advisors LLC now owns 4,242 shares of the technology company’s stock worth $371,000 after acquiring an additional 605 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $21,736,000.00. Following the transaction, the chief executive officer now directly owns 565,180 shares of the company’s stock, valued at $61,423,762.40. This represents a 26.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,128,938 shares of company stock valued at $125,534,054. Insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TTD shares. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Macquarie upped their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Oppenheimer lifted their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson upped their price target on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company started coverage on shares of Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Price Performance

NASDAQ TTD opened at $128.15 on Friday. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $132.65. The stock’s 50-day moving average is $118.72 and its two-hundred day moving average is $104.72. The firm has a market cap of $63.25 billion, a P/E ratio of 210.08, a price-to-earnings-growth ratio of 5.81 and a beta of 1.47.

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.