Cherry Creek Investment Advisors Inc. Has $5.18 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Cherry Creek Investment Advisors Inc. cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,266 shares of the technology company’s stock after selling 6,332 shares during the quarter. Trade Desk comprises approximately 2.7% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 11th largest position. Cherry Creek Investment Advisors Inc.’s holdings in Trade Desk were worth $5,183,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new stake in Trade Desk in the 1st quarter worth approximately $2,626,000. Nordea Investment Management AB lifted its stake in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after buying an additional 70,201 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after buying an additional 4,296 shares during the period. Central Pacific Bank Trust Division acquired a new position in Trade Desk in the 1st quarter valued at $1,034,000. Finally, Sei Investments Co. grew its stake in Trade Desk by 16.3% in the 1st quarter. Sei Investments Co. now owns 246,188 shares of the technology company’s stock valued at $21,521,000 after buying an additional 34,520 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Down 1.5 %

Shares of TTD opened at $117.17 on Thursday. The stock’s fifty day simple moving average is $108.37 and its 200-day simple moving average is $97.88. The firm has a market capitalization of $57.60 billion, a PE ratio of 234.34, a price-to-earnings-growth ratio of 5.73 and a beta of 1.48. The Trade Desk, Inc. has a 12-month low of $60.23 and a 12-month high of $120.78.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter in the previous year, the company earned $0.07 EPS. Trade Desk’s revenue was up 25.9% on a year-over-year basis. Analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Buying and Selling at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the business’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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 135,922 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. 9.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Oppenheimer upped their price target on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Susquehanna lifted their price objective on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.97.

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.