California State Teachers Retirement System boosted its holdings in Trade Desk Inc (NASDAQ:TTD) by 2.6% in the third quarter, Holdings Channel reports. The institutional investor owned 61,891 shares of the technology company’s stock after acquiring an additional 1,589 shares during the quarter. California State Teachers Retirement System’s holdings in Trade Desk were worth $11,608,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in TTD. Stifel Financial Corp lifted its holdings in shares of Trade Desk by 27.3% in the third quarter. Stifel Financial Corp now owns 27,209 shares of the technology company’s stock worth $5,106,000 after buying an additional 5,836 shares in the last quarter. State Street Corp grew its stake in Trade Desk by 0.3% during the third quarter. State Street Corp now owns 492,443 shares of the technology company’s stock valued at $92,358,000 after acquiring an additional 1,370 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Trade Desk by 25.8% in the 3rd quarter. Voya Investment Management LLC now owns 18,175 shares of the technology company’s stock valued at $3,409,000 after purchasing an additional 3,723 shares during the period. Cetera Investment Advisers grew its position in shares of Trade Desk by 54.7% during the 3rd quarter. Cetera Investment Advisers now owns 1,830 shares of the technology company’s stock valued at $347,000 after purchasing an additional 647 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Trade Desk during the 3rd quarter valued at $278,000. Institutional investors and hedge funds own 66.48% of the company’s stock.
Several research firms have recently weighed in on TTD. Oppenheimer upped their price target on shares of Trade Desk from $210.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. SunTrust Banks restated a “buy” rating and set a $285.00 target price on shares of Trade Desk in a research report on Wednesday, November 6th. Stephens assumed coverage on Trade Desk in a report on Monday, November 4th. They issued an “overweight” rating and a $250.00 price target on the stock. ValuEngine cut Trade Desk from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Pivotal Research dropped their price target on Trade Desk from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $226.13.
In other Trade Desk news, insider Vivian Yang sold 1,263 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $204.21, for a total value of $257,917.23. Following the completion of the sale, the insider now owns 43,727 shares of the company’s stock, valued at $8,929,490.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 5,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $207.14, for a total transaction of $1,035,700.00. Following the transaction, the chief executive officer now owns 98,392 shares in the company, valued at $20,380,918.88. The disclosure for this sale can be found here. Insiders have sold a total of 100,572 shares of company stock worth $21,502,586 over the last quarter. Corporate insiders own 17.44% of the company’s stock.
About Trade Desk
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
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