Polar Asset Management Partners Inc. Buys Shares of 95,600 The Trade Desk, Inc. (NASDAQ:TTD)

Polar Asset Management Partners Inc. bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,600 shares of the technology company’s stock, valued at approximately $10,483,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in shares of Trade Desk in the second quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in Trade Desk during the second quarter worth $37,000. Avior Wealth Management LLC boosted its stake in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Quarry LP acquired a new stake in Trade Desk during the second quarter worth $41,000. Finally, Brown Lisle Cummings Inc. boosted its stake in shares of Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

TTD stock opened at $139.16 on Wednesday. The stock has a fifty day moving average of $120.56 and a 200-day moving average of $106.02. The company has a market capitalization of $68.69 billion, a price-to-earnings ratio of 228.13, a PEG ratio of 6.13 and a beta of 1.43. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $139.23.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 80,649 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total value of $9,314,959.50. Following the sale, the chief executive officer now owns 7,330 shares of the company’s stock, valued at $846,615. This trade represents a 91.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’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 transaction, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. 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. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TTD shares. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday. KeyCorp raised their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Susquehanna reissued a “positive” rating and issued a $150.00 target price on shares of Trade Desk in a research note on Thursday, November 21st. Bank of America began coverage on Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. Finally, Oppenheimer lifted their target price on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.66.

About Trade Desk

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.