abrdn plc Increases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

abrdn plc raised its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 57.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,618 shares of the technology company's stock after acquiring an additional 28,967 shares during the quarter. abrdn plc's holdings in Trade Desk were worth $8,730,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Venture Visionary Partners LLC increased its holdings in Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company's stock worth $1,898,000 after purchasing an additional 4,296 shares in the last quarter. Nordea Investment Management AB raised its holdings in Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company's stock valued at $60,202,000 after buying an additional 70,201 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Trade Desk during the 1st quarter worth approximately $1,034,000. Sei Investments Co. grew its holdings in Trade Desk by 16.3% during the 1st quarter. Sei Investments Co. now owns 246,188 shares of the technology company's stock worth $21,521,000 after acquiring an additional 34,520 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Trade Desk by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company's stock worth $9,179,000 after acquiring an additional 5,148 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,872 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now directly owns 99,374 shares of the company's stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the sale, the chief executive officer now directly owns 664,261 shares in the company, valued at $68,897,150.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,557,897 shares of company stock valued at $170,121,565. Insiders own 9.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Trade Desk from $115.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Oppenheimer upped their price target on Trade Desk from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. Loop Capital raised their price objective on Trade Desk from $109.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, August 26th. Bank of America began coverage on Trade Desk in a report on Wednesday, September 4th. They issued a "buy" rating and a $135.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Trade Desk in a report on Monday, October 28th. They set an "overweight" rating and a $150.00 price target for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.60.

Trade Desk Stock Performance

TTD traded down $1.02 during midday trading on Friday, reaching $119.19. 3,334,318 shares of the company were exchanged, compared to its average volume of 2,432,995. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $123.85. The company's fifty day moving average price is $110.78 and its 200 day moving average price is $99.58. The company has a market cap of $58.59 billion, a price-to-earnings ratio of 238.38, a price-to-earnings-growth ratio of 5.78 and a beta of 1.47.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the firm earned $0.07 EPS. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.