The Trade Desk, Inc. (NASDAQ:TTD) Stock Holdings Reduced by Eventide Asset Management LLC

Eventide Asset Management LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 19.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,149 shares of the technology company’s stock after selling 256,266 shares during the period. Trade Desk accounts for about 2.0% of Eventide Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Eventide Asset Management LLC owned approximately 0.21% of Trade Desk worth $114,820,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TTD. Transcendent Capital Group LLC acquired a new position in Trade Desk during the second quarter worth $30,000. EdgeRock Capital LLC acquired a new position in shares of Trade Desk during the 2nd quarter valued at about $37,000. Avior Wealth Management LLC raised its stake in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Quarry LP acquired a new stake in Trade Desk in the 2nd quarter worth approximately $41,000. Finally, Brown Lisle Cummings Inc. boosted its position in Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD opened at $128.15 on Friday. The firm’s 50-day simple moving average is $119.08 and its 200 day simple moving average is $104.88. 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. The Trade Desk, Inc. has a 52 week low of $61.47 and a 52 week high of $132.65.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were 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 owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $108.68, for a total value of $21,736,000.00. Following the completion of the transaction, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. This represents a 26.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,128,938 shares of company stock valued at $125,534,054 in the last quarter. Company insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TTD. Bank of America began coverage on shares of Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Piper Sandler restated 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. Macquarie upped their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. KeyCorp raised their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Loop Capital increased their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $124.66.

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.