Jennison Associates LLC Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Jennison Associates LLC raised its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 11.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 20,320,769 shares of the technology company's stock after buying an additional 2,013,047 shares during the period. Trade Desk comprises about 1.4% of Jennison Associates LLC's portfolio, making the stock its 18th largest holding. Jennison Associates LLC owned 4.13% of Trade Desk worth $2,228,172,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Venture Visionary Partners LLC grew its position in Trade Desk by 33.0% during the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company's stock valued at $1,898,000 after buying an additional 4,296 shares during the period. Assetmark Inc. increased its stake in shares of Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company's stock valued at $8,066,000 after purchasing an additional 70,687 shares in the last quarter. Swiss National Bank increased its stake in shares of Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company's stock valued at $144,892,000 after purchasing an additional 4,500 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted 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 worth $9,179,000 after purchasing an additional 5,148 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Trade Desk by 2.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 169,544 shares of the technology company's stock valued at $18,590,000 after purchasing an additional 3,846 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Performance

Shares of Trade Desk stock traded up $5.72 during trading hours on Wednesday, reaching $125.14. 4,098,265 shares of the company were exchanged, compared to its average volume of 3,836,547. The firm has a market cap of $61.77 billion, a PE ratio of 195.77, a PEG ratio of 5.35 and a beta of 1.47. The stock's fifty day moving average is $116.00 and its 200 day moving average is $103.17. The Trade Desk, Inc. has a 1 year low of $61.47 and a 1 year high of $132.65.

Insider Buying and Selling at Trade Desk

In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $80,102,994.79. This represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business's stock in a transaction that occurred 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 owns 28,636 shares of the company's stock, valued at approximately $3,375,898.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,548,289 shares of company stock valued at $169,165,185 in the last quarter. Corporate insiders own 9.72% of the company's stock.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $110.00 price target on shares of Trade Desk in a research report on Monday, October 7th. Piper Sandler restated an "overweight" rating and issued a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Truist Financial upped their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Susquehanna raised their price target on shares of Trade Desk from $135.00 to $150.00 and gave the stock a "positive" rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $122.65.

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.