The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by State Street Corp

State Street Corp lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,674,801 shares of the technology company's stock after selling 60,963 shares during the quarter. State Street Corp owned 1.97% of Trade Desk worth $1,060,842,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Edgewood Management LLC grew its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. Jennison Associates LLC grew its position in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. increased 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 worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company's stock worth $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company's stock valued at $170,275,000 after buying an additional 872,555 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

Shares of NASDAQ TTD traded up $2.75 during mid-day trading on Friday, reaching $139.11. 3,233,628 shares of the company's stock were exchanged, compared to its average volume of 4,423,781. The firm has a market capitalization of $68.66 billion, a price-to-earnings ratio of 228.05, a PEG ratio of 6.30 and a beta of 1.43. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $141.53. The company's 50-day moving average is $122.27 and its 200-day moving average is $106.83.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of research reports. Susquehanna restated a "positive" rating and issued a $150.00 target price on shares of Trade Desk in a report on Thursday, November 21st. Wells Fargo & Company assumed coverage on Trade Desk in a research note on Monday, October 28th. They issued an "overweight" rating and a $150.00 price objective for the company. BTIG Research boosted their target price on Trade Desk from $114.00 to $142.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Trade Desk from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Macquarie lifted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $124.94.

Insider Activity

In related news, insider Jay R. Grant sold 20,579 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $108.65, for a total value of $2,235,908.35. Following the completion of the sale, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This trade represents a 10.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now owns 29,991 shares of the company's stock, valued at $3,269,019. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,128,938 shares of company stock worth $125,534,054. Corporate insiders own 9.72% of the company's stock.

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.