The Trade Desk, Inc. (NASDAQ:TTD) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,958 shares of the technology company’s stock after acquiring an additional 520 shares during the period. M&T Bank Corp’s holdings in Trade Desk were worth $3,395,000 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 position in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC boosted its holdings in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Edgewood Management LLC grew its position in Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after buying an additional 270,800 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTD. Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Scotiabank started coverage on shares of Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of Trade Desk in a report on Thursday. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Finally, Robert W. Baird raised their price objective on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.94.

Trade Desk Stock Down 0.9 %

Shares of Trade Desk stock opened at $132.42 on Friday. The Trade Desk, Inc. has a 12-month low of $61.47 and a 12-month high of $141.53. The stock has a 50 day moving average price of $124.59 and a two-hundred day moving average price of $108.10. The stock has a market capitalization of $65.36 billion, a P/E ratio of 217.08, a PEG ratio of 6.08 and a beta of 1.43.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now directly owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the transaction, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. This trade represents a 26.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,128,938 shares of company stock valued at $125,534,054. Company insiders own 9.72% of the company’s stock.

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.