Oppenheimer & Co. Inc. Decreases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Oppenheimer & Co. Inc. cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,270 shares of the technology company’s stock after selling 11,949 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Trade Desk were worth $5,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTD. Oppenheimer Asset Management Inc. raised its holdings in shares of Trade Desk by 2.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 169,544 shares of the technology company’s stock valued at $18,590,000 after buying an additional 3,846 shares during the period. Empower Advisory Group LLC raised its stake in shares of Trade Desk by 91.2% during the third quarter. Empower Advisory Group LLC now owns 12,454 shares of the technology company’s stock valued at $1,366,000 after purchasing an additional 5,942 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Trade Desk by 3.6% during the third quarter. Aptus Capital Advisors LLC now owns 4,116 shares of the technology company’s stock worth $451,000 after purchasing an additional 144 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Trade Desk by 7.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 10,367 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 718 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Wedbush raised their price objective on shares of Trade Desk from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Susquehanna upped their target price on shares of Trade Desk from $135.00 to $150.00 and gave the company a “positive” rating in a research note on Friday, November 8th. UBS Group upped their price objective on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, New Street Research cut Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.65.

Insiders Place Their Bets

In other news, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction that occurred on 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 transaction, the insider now owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The trade was a 10.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,548,289 shares of company stock worth $169,165,185 over the last ninety days. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 1.1 %

Shares of NASDAQ:TTD opened at $125.88 on Friday. The Trade Desk, Inc. has a twelve month low of $61.47 and a twelve month high of $132.65. The firm has a market cap of $61.88 billion, a P/E ratio of 206.36, a P/E/G ratio of 6.07 and a beta of 1.47. The company has a 50 day moving average of $114.89 and a 200-day moving average of $102.26.

Trade Desk Profile

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.