Summit Partners Public Asset Management LLC Has $32.87 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Summit Partners Public Asset Management LLC cut its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 51.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,802 shares of the technology company’s stock after selling 312,000 shares during the quarter. Trade Desk accounts for 1.0% of Summit Partners Public Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Summit Partners Public Asset Management LLC’s holdings in Trade Desk were worth $32,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CAP Partners LLC lifted its holdings in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares during the period. Allworth Financial LP lifted its stake in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares during the period. Apella Capital LLC boosted its holdings in Trade Desk by 1.9% during the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after purchasing an additional 100 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. Finally, HM Payson & Co. raised its holdings in shares of Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after buying an additional 102 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target on the stock. Oppenheimer increased their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. 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. Finally, Susquehanna reissued a “positive” rating and issued a $150.00 target price on shares of Trade Desk in a report on Thursday, November 21st. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.66.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares in the company, valued at $3,269,019. This represents a 4.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the transaction, the chief executive officer now owns 565,180 shares in the company, valued at approximately $61,423,762.40. This represents a 26.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,128,938 shares of company stock worth $125,534,054 in the last ninety days. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Down 0.6 %

NASDAQ:TTD opened at $128.15 on Friday. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The firm has a market capitalization of $63.25 billion, a price-to-earnings ratio of 210.08, a PEG ratio of 5.81 and a beta of 1.47. The business’s 50-day moving average price is $118.72 and its two-hundred day moving average price is $104.72.

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.