Principal Financial Group Inc. Has $20.03 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Principal Financial Group Inc. decreased its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 17.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 182,700 shares of the technology company's stock after selling 38,632 shares during the period. Principal Financial Group Inc.'s holdings in Trade Desk were worth $20,033,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of Trade Desk by 15.3% during the first quarter. Empowered Funds LLC now owns 12,400 shares of the technology company's stock valued at $1,084,000 after buying an additional 1,643 shares during the period. SG Americas Securities LLC grew its stake in shares of Trade Desk by 149.6% during the 1st quarter. SG Americas Securities LLC now owns 19,991 shares of the technology company's stock valued at $1,748,000 after buying an additional 11,981 shares during the period. Sei Investments Co. increased its holdings in shares of 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 buying an additional 34,520 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Trade Desk by 12.1% in the 1st quarter. Russell Investments Group Ltd. now owns 144,350 shares of the technology company's stock worth $12,608,000 after purchasing an additional 15,550 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new position in Trade Desk in the first quarter valued at approximately $253,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trade Desk

In related news, CFO Laura Schenkein sold 3,130 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the transaction, the chief financial officer now owns 693,953 shares of the company's stock, valued at approximately $68,930,351.49. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gokul Rajaram sold 1,355 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 3,130 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at $68,930,351.49. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,291 shares of company stock worth $169,960,852 over the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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. Robert W. Baird lifted their target price on Trade Desk from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on Trade Desk from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Benchmark restated a "sell" rating and set a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Finally, New Street Research cut Trade Desk from a "neutral" rating to a "sell" rating and set a $86.00 target price for the company. in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus price target of $122.65.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded down $1.37 during mid-day trading on Thursday, reaching $125.88. The company had a trading volume of 2,649,437 shares, compared to its average volume of 3,825,926. The Trade Desk, Inc. has a twelve month low of $61.47 and a twelve month high of $132.65. The stock's 50 day moving average is $114.45 and its 200-day moving average is $102.09. The stock has a market capitalization of $61.88 billion, a PE ratio of 207.10, a price-to-earnings-growth ratio of 6.25 and a beta of 1.47.

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.