First Horizon Advisors Inc. Sells 1,164 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

First Horizon Advisors Inc. cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 31.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,514 shares of the technology company’s stock after selling 1,164 shares during the quarter. First Horizon Advisors Inc.’s holdings in Trade Desk were worth $276,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jennison Associates LLC increased its stake in Trade Desk by 11.0% in the third 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. grew its holdings in shares of 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 buying an additional 1,720,650 shares during the period. International Assets Investment Management LLC increased its position in shares of Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Marshall Wace LLP raised its stake in Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Trade Desk by 3,973.6% during the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after acquiring an additional 437,967 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Price Performance

NASDAQ:TTD opened at $129.70 on Friday. The firm’s fifty day moving average price is $116.90 and its two-hundred day moving average price is $103.48. The company has a market cap of $64.02 billion, a P/E ratio of 212.62, a P/E/G ratio of 5.41 and a beta of 1.47. The Trade Desk, Inc. has a one year low of $61.47 and a one year high of $132.65.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Needham & Company LLC raised their price target on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Loop Capital boosted their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. KeyCorp increased their target price on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Benchmark restated a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Finally, Moffett Nathanson began coverage on Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.66.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at $39,682,694.40. The trade was a 42.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,412,367 shares of company stock worth $155,067,356. Insiders own 9.72% of the company’s stock.

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.