Investment Management Corp of Ontario Raises Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Investment Management Corp of Ontario lifted its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 50.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,864 shares of the technology company's stock after acquiring an additional 5,000 shares during the quarter. Investment Management Corp of Ontario's holdings in Trade Desk were worth $1,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CAP Partners LLC lifted its holdings in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company's stock worth $702,000 after acquiring an additional 86 shares during the period. Allworth Financial LP increased its position in shares of Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company's stock valued at $410,000 after purchasing an additional 97 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock worth $40,000 after purchasing an additional 100 shares during the period. HM Payson & Co. boosted its holdings in shares of Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company's stock worth $1,083,000 after buying an additional 102 shares during the last quarter. Finally, Wealth Alliance boosted its holdings in shares of Trade Desk by 0.6% in the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company's stock worth $1,810,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Performance

Trade Desk stock traded down $3.15 during mid-day trading on Thursday, hitting $136.36. 3,638,131 shares of the company traded hands, compared to its average volume of 3,844,459. The stock has a fifty day moving average price of $121.14 and a 200-day moving average price of $106.25. The stock has a market cap of $67.30 billion, a price-to-earnings ratio of 228.70, a price-to-earnings-growth ratio of 6.31 and a beta of 1.43. The Trade Desk, Inc. has a one year low of $61.47 and a one year high of $141.53.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the completion of the sale, the chief executive officer now owns 565,180 shares of the company's stock, valued at $61,423,762.40. This represents a 26.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the transaction, the director now owns 29,991 shares in the company, valued at $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Loop Capital lifted their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Bank of America started coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They set a "buy" rating and a $135.00 price target for the company. Wedbush upped their price objective on Trade Desk from $115.00 to $135.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Needham & Company LLC raised their target price on Trade Desk from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Finally, KeyCorp boosted their target price on Trade Desk from $115.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $124.94.

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.