Empowered Funds LLC Has $1.62 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Empowered Funds LLC grew its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,738 shares of the technology company’s stock after buying an additional 953 shares during the period. Empowered Funds LLC’s holdings in Trade Desk were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of Trade Desk by 1.5% during the third quarter. CIBC Asset Management Inc now owns 193,260 shares of the technology company’s stock worth $21,191,000 after buying an additional 2,944 shares during the last quarter. Balboa Wealth Partners acquired a new stake in Trade Desk during the third quarter worth about $203,000. OneDigital Investment Advisors LLC grew its holdings in shares of Trade Desk by 7.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,737 shares of the technology company’s stock worth $848,000 after purchasing an additional 513 shares in the last quarter. Diversified Portfolios Inc. bought a new stake in shares of Trade Desk during the third quarter valued at approximately $224,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Trade Desk by 4.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,876 shares of the technology company’s stock valued at $1,412,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the subject of a number of recent research reports. Susquehanna restated a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target (up from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Moffett Nathanson assumed coverage on shares of Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.08.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. This represents a 42.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated 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 directly owns 29,991 shares in the company, valued at $3,269,019. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,412,367 shares of company stock valued at $155,067,356 in the last quarter. Company insiders own 9.72% of the company’s stock.

Trade Desk Trading Up 2.7 %

NASDAQ:TTD opened at $127.27 on Friday. The firm has a market capitalization of $62.82 billion, a price-to-earnings ratio of 208.65, a PEG ratio of 5.41 and a beta of 1.47. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The business’s 50-day moving average price is $116.45 and its two-hundred day moving average price is $103.32.

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.