The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 18.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,270 shares of the technology company's stock after selling 11,949 shares during the period. Oppenheimer & Co. Inc.'s holdings in Trade Desk were worth $5,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company's stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company's stock valued at $278,623,000 after buying an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position in Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company's stock worth $211,500,000 after buying an additional 100,000 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company's stock worth $170,275,000 after acquiring an additional 872,555 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Trade Desk by 12.3% in the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company's stock valued at $159,151,000 after acquiring an additional 177,832 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TTD shares. Citigroup boosted their target price on shares of Trade Desk from $115.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Wedbush raised their target price on shares of Trade Desk from $115.00 to $135.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Bank of America assumed coverage on Trade Desk in a report on Wednesday, September 4th. They issued a "buy" rating and a $135.00 price target for the company. StockNews.com raised Trade Desk from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.65.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction on Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the sale, the insider now owns 178,853 shares of the company's stock, valued at $19,432,378.45. The trade was a 10.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business'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 transaction, the director now owns 28,636 shares of the company's stock, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,548,289 shares of company stock worth $169,165,185 in the last 90 days. 9.72% of the stock is currently owned by company insiders.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded down $7.31 during midday trading on Friday, hitting $118.57. The company's stock had a trading volume of 2,875,574 shares, compared to its average volume of 3,821,785. The firm's fifty day moving average price is $114.89 and its 200-day moving average price is $102.26. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The firm has a market cap of $58.29 billion, a P/E ratio of 206.36, a P/E/G ratio of 6.07 and a beta of 1.47.

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.