Fred Alger Management LLC Cuts Position in The Trade Desk, Inc. (NASDAQ:TTD)

Fred Alger Management LLC decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 61.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,735 shares of the technology company’s stock after selling 284,844 shares during the period. Fred Alger Management LLC’s holdings in Trade Desk were worth $19,489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in shares of Trade Desk by 2.3% during the third quarter. Captrust Financial Advisors now owns 14,404 shares of the technology company’s stock worth $1,579,000 after acquiring an additional 322 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Trade Desk by 6.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,836 shares of the technology company’s stock worth $4,697,000 after purchasing an additional 2,516 shares during the period. Hantz Financial Services Inc. lifted its stake in Trade Desk by 5.6% in the third quarter. Hantz Financial Services Inc. now owns 13,243 shares of the technology company’s stock worth $1,452,000 after purchasing an additional 697 shares during the last quarter. Vinva Investment Management Ltd boosted its position in Trade Desk by 13.3% during the third quarter. Vinva Investment Management Ltd now owns 20,823 shares of the technology company’s stock valued at $2,279,000 after buying an additional 2,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after buying an additional 68,206 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the sale, the chief executive officer now owns 765,180 shares in the company, valued at $83,764,254.60. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,128,938 shares of company stock worth $125,534,054 over the last three months. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TTD. Oppenheimer boosted their target price on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Susquehanna reissued a “positive” rating and set a $150.00 price objective on shares of Trade Desk in a research note on Thursday, November 21st. Stifel Nicolaus raised their target price on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird upped their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Evercore ISI raised their price target on shares of Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Trading Up 0.3 %

Shares of NASDAQ:TTD opened at $128.55 on Friday. The stock has a fifty day simple moving average of $119.08 and a two-hundred day simple moving average of $104.88. The Trade Desk, Inc. has a 12-month low of $61.47 and a 12-month high of $132.65. The stock has a market capitalization of $63.45 billion, a price-to-earnings ratio of 210.74, a PEG ratio of 5.81 and a beta of 1.47.

Trade Desk 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.