Baillie Gifford & Co. Buys 1,720,650 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Baillie Gifford & Co. raised its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,716,074 shares of the technology company's stock after purchasing an additional 1,720,650 shares during the quarter. Trade Desk accounts for about 3.2% of Baillie Gifford & Co.'s investment portfolio, making the stock its 7th largest position. Baillie Gifford & Co. owned approximately 7.88% of Trade Desk worth $4,245,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company's stock worth $410,000 after acquiring an additional 97 shares during the period. Apella Capital LLC grew its holdings in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company's stock valued at $547,000 after purchasing an additional 100 shares in the last quarter. HM Payson & Co. boosted its holdings in Trade Desk by 1.0% in the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company's stock valued at $1,083,000 after purchasing an additional 102 shares during the period. Wealth Alliance increased its stake in shares of Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company's stock worth $1,810,000 after buying an additional 106 shares during the period. Finally, Parisi Gray Wealth Management raised its stake in Trade Desk by 2.6% in the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company's stock valued at $486,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday. Needham & Company LLC upped their target price on Trade Desk from $115.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Moffett Nathanson began coverage on Trade Desk in a report on Monday, September 23rd. They set a "neutral" rating and a $100.00 target price on the stock. StockNews.com upgraded Trade Desk from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Truist Financial increased their target price on Trade Desk from $120.00 to $135.00 and gave the company a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned 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, the company has an average rating of "Moderate Buy" and a consensus price target of $122.65.

Insiders Place Their Bets

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

Trade Desk Price Performance

NASDAQ TTD traded up $0.73 on Tuesday, hitting $130.07. 1,297,683 shares of the stock were exchanged, compared to its average volume of 3,820,426. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $132.65. The company has a market capitalization of $63.94 billion, a price-to-earnings ratio of 212.03, a P/E/G ratio of 6.02 and a beta of 1.47. The company's 50-day moving average price is $113.32 and its two-hundred day moving average price is $101.59.

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.