Great Valley Advisor Group Inc. Decreases Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Great Valley Advisor Group Inc. trimmed its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,747 shares of the technology company’s stock after selling 210 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Trade Desk were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nwam LLC purchased a new position in Trade Desk in the third quarter valued at approximately $280,000. Meridian Wealth Management LLC lifted its position in shares of Trade Desk by 4.8% during the 3rd quarter. Meridian Wealth Management LLC now owns 16,488 shares of the technology company’s stock valued at $1,808,000 after buying an additional 751 shares during the last quarter. Ithaka Group LLC lifted its position in shares of Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after buying an additional 4,836 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Trade Desk by 16.6% in the 3rd quarter. Raymond James Trust N.A. now owns 19,148 shares of the technology company’s stock worth $2,100,000 after acquiring an additional 2,721 shares during the last quarter. Finally, Edgewood Management LLC raised its stake in Trade Desk by 133.3% in the 3rd 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 during the period. 67.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 target price for the company. Truist Financial raised their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Oppenheimer boosted their target price on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Benchmark reaffirmed a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Finally, Bank of America initiated coverage on Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Stock Performance

Shares of TTD opened at $129.35 on Tuesday. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $132.65. The firm has a market cap of $63.84 billion, a price-to-earnings ratio of 212.05, a PEG ratio of 5.88 and a beta of 1.47. The firm has a 50 day moving average price of $117.38 and a 200-day moving average price of $103.98.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction 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 sale, the insider now owns 178,853 shares of the company’s stock, 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 a total of 1,128,938 shares of company stock worth $125,534,054 in the last 90 days. 9.72% of the stock is owned by company insiders.

Trade Desk Company 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.