Parnassus Investments LLC Sells 15,006 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Parnassus Investments LLC reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 980,483 shares of the technology company's stock after selling 15,006 shares during the quarter. Parnassus Investments LLC owned approximately 0.20% of Trade Desk worth $107,510,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk in the second quarter valued at $30,000. JFS Wealth Advisors LLC raised its stake in shares of Trade Desk by 194.5% in the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company's stock valued at $41,000 after buying an additional 247 shares during the period. Brown Lisle Cummings Inc. raised its stake in shares of Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after buying an additional 150 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Trade Desk in the second quarter valued at $37,000. Finally, Quarry LP bought a new stake in shares of Trade Desk in the second quarter valued at $41,000. 67.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 693,953 shares of the company's stock, valued at approximately $80,102,994.79. This represents a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company's stock, valued at $39,682,694.40. This represents a 42.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,548,289 shares of company stock worth $169,165,185. 9.72% of the stock is currently owned by company insiders.

Trade Desk Stock Performance

TTD stock traded up $2.16 during trading on Tuesday, hitting $119.42. 3,667,836 shares of the company traded hands, compared to its average volume of 3,835,352. The Trade Desk, Inc. has a 1 year low of $61.47 and a 1 year high of $132.65. The company has a 50-day moving average of $115.61 and a 200-day moving average of $102.96. The firm has a market capitalization of $58.94 billion, a PE ratio of 192.23, a P/E/G ratio of 5.35 and a beta of 1.47.

Analysts Set New Price Targets

A number of research firms recently issued reports on TTD. Bank of America began coverage on Trade Desk in a research note on Wednesday, September 4th. They set a "buy" rating and a $135.00 price objective on the stock. Truist Financial boosted their price objective on Trade Desk from $120.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Needham & Company LLC boosted their price objective on Trade Desk from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Robert W. Baird boosted their price objective on Trade Desk from $130.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Evercore ISI upgraded Trade Desk to a "strong-buy" rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $122.65.

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.