Fmr LLC Has $286.87 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Fmr LLC grew its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,616,203 shares of the technology company’s stock after acquiring an additional 32,999 shares during the period. Fmr LLC owned 0.53% of Trade Desk worth $286,867,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC increased its stake in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Trade Desk by 10.5% during the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after buying an additional 270,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Trade Desk by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,779,650 shares of the technology company’s stock valued at $195,139,000 after buying an additional 41,025 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Trade Desk stock opened at $128.55 on Monday. The Trade Desk, Inc. has a one year low of $61.47 and a one year high of $132.65. The business has a fifty day moving average price of $119.46 and a 200-day moving average price of $105.30. The firm has a market capitalization of $63.45 billion, a P/E ratio of 210.74, a PEG ratio of 5.83 and a beta of 1.47.

Insider Activity

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the completion of the transaction, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This represents a 10.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,128,938 shares of company stock worth $125,534,054 over the last ninety days. Company insiders own 9.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Piper Sandler restated an “overweight” rating and issued a $140.00 target price (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Susquehanna reissued a “positive” rating and issued a $150.00 price target on shares of Trade Desk in a research report on Thursday, November 21st. Oppenheimer lifted their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Evercore ISI raised their price target on shares of Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.