Eventide Asset Management LLC Has $114.82 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Eventide Asset Management LLC lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 19.7% during the third quarter, HoldingsChannel reports. The firm owned 1,047,149 shares of the technology company’s stock after selling 256,266 shares during the period. Trade Desk comprises approximately 2.0% of Eventide Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Eventide Asset Management LLC’s holdings in Trade Desk were worth $114,820,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Edgewood Management LLC raised its stake 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 valued at $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Jennison Associates LLC grew its holdings 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 worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of 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 purchasing an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares during the period. Finally, Marshall Wace LLP raised its holdings in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TTD shares. DA Davidson increased their target price on Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Benchmark restated a “sell” rating and set a $57.00 target price on shares of Trade Desk in a report on Friday, November 8th. Oppenheimer increased their price target on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Susquehanna restated a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a report on Thursday, November 21st. Finally, Moffett Nathanson initiated coverage on shares of Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price for the company. One research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $128.15 on Friday. The stock has a market capitalization of $63.25 billion, a PE ratio of 210.08, a P/E/G ratio of 5.81 and a beta of 1.47. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The company’s fifty day simple moving average is $119.08 and its 200-day simple moving average is $104.88.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction on Monday, September 23rd. The shares were 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 owns 565,180 shares in the company, valued at approximately $61,423,762.40. The trade was a 26.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,128,938 shares of company stock worth $125,534,054. Corporate 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.