Avanza Fonder AB Purchases New Position in The Trade Desk, Inc. (NASDAQ:TTD)

Avanza Fonder AB purchased a new stake in The Trade Desk, Inc. (NASDAQ:TTD) during the fourth quarter, Holdings Channel reports. The firm purchased 9,506 shares of the technology company’s stock, valued at approximately $1,117,000.

Other hedge funds have also recently bought and sold shares of the company. Edgewood Management LLC raised its stake in shares of Trade Desk by 133.3% in the third 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 last quarter. Jennison Associates LLC increased its holdings in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. raised its position in Trade Desk by 4.7% in 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 during the last quarter. International Assets Investment Management LLC boosted its stake in Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after purchasing an additional 1,558,465 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Oppenheimer boosted their price objective 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. Loop Capital increased their price objective on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Finally, BTIG Research raised their price target on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.55.

Trade Desk Stock Up 3.0 %

Shares of TTD stock opened at $124.42 on Monday. The Trade Desk, Inc. has a 12-month low of $63.63 and a 12-month high of $141.53. The firm has a fifty day moving average of $126.30 and a 200-day moving average of $112.89. The company has a market capitalization of $61.41 billion, a price-to-earnings ratio of 203.97, a P/E/G ratio of 3.76 and a beta of 1.45.

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.