Ashford Capital Management Inc. Cuts Position in The Trade Desk, Inc. (NASDAQ:TTD)

Ashford Capital Management Inc. decreased its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,301 shares of the technology company's stock after selling 4,768 shares during the period. Trade Desk comprises about 2.7% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 14th biggest position. Ashford Capital Management Inc.'s holdings in Trade Desk were worth $21,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Edgewood Management LLC lifted 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 valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Jennison Associates LLC grew its stake in Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Baillie Gifford & Co. increased its stake in shares of Trade Desk by 4.7% in the 3rd 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. International Assets Investment Management LLC boosted its stake in 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 worth $172,460,000 after acquiring an additional 1,558,465 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company's stock valued at $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.

Trade Desk Price Performance

NASDAQ TTD traded down $2.11 during trading on Tuesday, reaching $132.66. 3,808,994 shares of the company's stock traded hands, compared to its average volume of 3,843,043. The company's 50 day simple moving average is $122.77 and its two-hundred day simple moving average is $107.20. The Trade Desk, Inc. has a 12-month low of $61.47 and a 12-month high of $141.53. The firm has a market cap of $65.48 billion, a price-to-earnings ratio of 220.93, a price-to-earnings-growth ratio of 6.30 and a beta of 1.43.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $109.47, for a total value of $21,894,000.00. Following the sale, the chief executive officer now owns 765,180 shares in the company, valued at $83,764,254.60. This represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the sale, the chief financial officer now directly owns 693,953 shares in the company, valued at $80,102,994.79. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,128,938 shares of company stock valued at $125,534,054. 9.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TTD. KeyCorp raised their price objective on Trade Desk from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on shares of Trade Desk from $130.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Macquarie boosted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. 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. Finally, Bank of America assumed coverage on Trade Desk in a report on Wednesday, September 4th. They set a "buy" rating and a $135.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $124.94.

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.