The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,417 shares of the technology company's stock after selling 20,171 shares during the period. Thrivent Financial for Lutherans' holdings in Trade Desk were worth $21,427,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TTD. Evergreen Wealth Management LLC acquired a new stake in shares of Trade Desk during the 3rd quarter valued at about $842,000. Natixis Advisors LLC raised its holdings in shares of Trade Desk by 4.2% in the 3rd quarter. Natixis Advisors LLC now owns 437,506 shares of the technology company's stock valued at $47,973,000 after buying an additional 17,533 shares during the period. Empowered Funds LLC lifted its position in shares of Trade Desk by 6.9% during the 3rd quarter. Empowered Funds LLC now owns 14,738 shares of the technology company's stock worth $1,616,000 after purchasing an additional 953 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Trade Desk by 1.5% in the third quarter. CIBC Asset Management Inc now owns 193,260 shares of the technology company's stock valued at $21,191,000 after buying an additional 2,944 shares during the last quarter. Finally, Balboa Wealth Partners acquired a new position in shares of Trade Desk during the 3rd quarter worth about $203,000. Institutional investors own 67.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler restated an "overweight" rating and set a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. StockNews.com upgraded Trade Desk from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. KeyCorp upped their price target on shares of Trade Desk from $115.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. BTIG Research boosted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $110.00 price target on shares of Trade Desk in a research note on Monday, October 7th. Two research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.65.

Trade Desk Stock Performance

TTD stock traded up $4.49 during midday trading on Wednesday, reaching $123.91. The stock had a trading volume of 5,052,219 shares, compared to its average volume of 3,840,786. The stock has a market cap of $61.16 billion, a PE ratio of 195.77, a P/E/G ratio of 5.35 and a beta of 1.47. The firm has a fifty day simple moving average of $116.00 and a two-hundred day simple moving average of $103.17. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $132.65.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of the firm'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 transaction, the director now owns 28,636 shares of the company's stock, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 20,579 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $108.65, for a total transaction 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 represents a 10.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,548,289 shares of company stock valued at $169,165,185 in the last ninety days. 9.72% of the stock is currently owned by corporate insiders.

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.