Connective Portfolio Management LLC Buys New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Connective Portfolio Management LLC purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,000 shares of the technology company’s stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ithaka Group LLC increased its stake in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after purchasing an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC grew its holdings in Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after buying an additional 4,296 shares during the period. Nordea Investment Management AB increased its stake in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares during the last quarter. Assetmark Inc. increased its stake in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after acquiring an additional 4,500 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,086 shares of company stock valued at $4,654,466. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ TTD opened at $119.68 on Thursday. The company’s fifty day moving average price is $126.55 and its two-hundred day moving average price is $112.46. The company has a market capitalization of $59.07 billion, a price-to-earnings ratio of 196.20, a price-to-earnings-growth ratio of 3.76 and a beta of 1.45. The Trade Desk, Inc. has a 12 month low of $61.47 and a 12 month high of $141.53.

Analysts Set New Price Targets

Several brokerages recently commented on TTD. Morgan Stanley upped their price target on shares of Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday. Moffett Nathanson began coverage on Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Oppenheimer lifted their price objective on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $132.55.

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.