ARK Investment Management LLC Reduces Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

ARK Investment Management LLC decreased its position in The Trade Desk, Inc. (NASDAQ:TTD) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,265,565 shares of the technology company’s stock after selling 553,187 shares during the quarter. Trade Desk accounts for about 1.3% of ARK Investment Management LLC’s investment portfolio, making the stock its 24th largest holding. ARK Investment Management LLC owned approximately 0.26% of Trade Desk worth $138,769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. grew its holdings in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after acquiring an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. raised its stake in shares of Trade Desk by 4.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares in the last quarter. Marshall Wace LLP boosted its stake in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after buying an additional 177,832 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Trade Desk by 10.7% during the second quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock worth $155,547,000 after acquiring an additional 153,748 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling at Trade Desk

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the transaction, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares of the company’s stock, valued at $9,887,713. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $132.53 on Friday. The company has a 50-day moving average of $112.41 and a two-hundred day moving average of $100.68. The stock has a market capitalization of $65.15 billion, a price-to-earnings ratio of 265.06, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47. The Trade Desk, Inc. has a 52-week low of $60.23 and a 52-week high of $132.65.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

TTD has been the topic of several recent research reports. Benchmark lifted their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 9th. Susquehanna raised their price objective on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Bank of America started coverage on Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. Oppenheimer upped their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Moffett Nathanson began coverage on shares of Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average price target of $115.60.

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.