The Trade Desk, Inc. (NASDAQ:TTD) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 326.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,495 shares of the technology company's stock after buying an additional 389,917 shares during the quarter. Franklin Resources Inc. owned 0.10% of Trade Desk worth $60,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at $30,000. EdgeRock Capital LLC acquired a new position in shares of Trade Desk in the second quarter valued at about $37,000. Avior Wealth Management LLC raised its stake in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Quarry LP acquired a new stake in shares of Trade Desk during the second quarter worth about $41,000. Finally, Brown Lisle Cummings Inc. boosted its position in 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 last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Trade Desk

In other news, CFO Laura Schenkein sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the sale, the chief financial officer now owns 693,953 shares in the company, valued at $80,102,994.79. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $109.47, for a total value of $21,894,000.00. Following the completion of the transaction, the chief executive officer now owns 765,180 shares in the company, valued at $83,764,254.60. This represents a 20.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,128,938 shares of company stock valued at $125,534,054. 9.72% of the stock is currently owned by insiders.

Trade Desk Trading Up 1.8 %

TTD stock traded up $2.37 during mid-day trading on Tuesday, reaching $135.02. The company's stock had a trading volume of 4,718,497 shares, compared to its average volume of 3,835,829. The company's 50 day moving average is $125.01 and its two-hundred day moving average is $108.55. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $141.53. The stock has a market cap of $66.64 billion, a PE ratio of 221.34, a P/E/G ratio of 6.00 and a beta of 1.43.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTD. Scotiabank started coverage on shares of Trade Desk in a research report on Thursday, December 5th. They set a "sector perform" rating and a $133.00 price target for the company. Oppenheimer raised their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. New Street Research raised shares of Trade Desk from a "sell" rating to a "neutral" rating and upped their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. StockNews.com downgraded Trade Desk from a "buy" rating to a "hold" rating in a research report on Saturday, November 30th. Finally, Truist Financial boosted their price objective on Trade Desk from $135.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.61.

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.