Geode Capital Management LLC Reduces Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Geode Capital Management LLC lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,163,554 shares of the technology company's stock after selling 66,007 shares during the quarter. Geode Capital Management LLC owned about 1.66% of Trade Desk worth $893,348,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TTD. ORG Partners LLC raised its position in Trade Desk by 6,661.5% during the second quarter. ORG Partners LLC now owns 879 shares of the technology company's stock valued at $86,000 after acquiring an additional 866 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Trade Desk by 5.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company's stock valued at $9,179,000 after buying an additional 5,148 shares during the period. Swedbank AB increased its holdings in Trade Desk by 28.4% in the second quarter. Swedbank AB now owns 234,911 shares of the technology company's stock valued at $22,944,000 after buying an additional 51,900 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Trade Desk by 34.4% in the second quarter. Assenagon Asset Management S.A. now owns 134,877 shares of the technology company's stock worth $13,173,000 after acquiring an additional 34,496 shares during the period. Finally, 17 Capital Partners LLC boosted its stake in shares of Trade Desk by 3.9% during the 2nd quarter. 17 Capital Partners LLC now owns 4,630 shares of the technology company's stock worth $452,000 after acquiring an additional 175 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Down 0.4 %

TTD stock traded down $0.53 during midday trading on Thursday, hitting $133.57. The company's stock had a trading volume of 2,662,004 shares, compared to its average volume of 3,835,364. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $141.53. The firm has a 50-day simple moving average of $124.20 and a 200-day simple moving average of $107.84. The firm has a market capitalization of $65.93 billion, a P/E ratio of 218.97, a PEG ratio of 6.30 and a beta of 1.43.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm's 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 sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 80,649 shares of Trade Desk stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total value of $9,314,959.50. Following the sale, the chief executive officer now directly owns 7,330 shares of the company's stock, valued at $846,615. This trade represents a 91.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,128,938 shares of company stock worth $125,534,054. Company insiders own 9.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TTD shares. BTIG Research increased their price target on Trade Desk from $114.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Trade Desk from $111.00 to $136.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Evercore ISI increased their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Benchmark reissued a "sell" rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. Finally, DA Davidson lifted their price objective on Trade Desk from $108.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, November 11th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.94.

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.