Knuff & Co LLC Cuts Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Knuff & Co LLC trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,312 shares of the technology company’s stock after selling 2,277 shares during the quarter. Trade Desk accounts for approximately 4.2% of Knuff & Co LLC’s holdings, making the stock its 4th biggest holding. Knuff & Co LLC’s holdings in Trade Desk were worth $13,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings 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 worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. 1832 Asset Management L.P. lifted its stake in Trade Desk by 10.5% in the second 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 during the period. Jericho Capital Asset Management L.P. boosted its holdings in Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after acquiring an additional 100,000 shares in the last quarter. Marshall Wace LLP increased its position 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 valued at $170,275,000 after purchasing an additional 872,555 shares during the period. Finally, Victory Capital Management Inc. increased its position in Trade Desk by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock valued at $159,151,000 after purchasing an additional 177,832 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TTD shares. Morgan Stanley lifted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BTIG Research increased their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. New Street Research lowered Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target on the stock. in a research report on Tuesday, October 29th. Finally, Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.65.

Insider Transactions at Trade Desk

In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at $80,102,994.79. This represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the sale, the director now owns 29,991 shares of the company’s stock, valued at $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,548,289 shares of company stock worth $169,165,185 over the last three months. 9.72% of the stock is currently owned by company insiders.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $117.26 on Tuesday. The firm has a market cap of $57.88 billion, a price-to-earnings ratio of 192.23, a price-to-earnings-growth ratio of 5.35 and a beta of 1.47. The business has a 50-day simple moving average of $115.61 and a two-hundred day simple moving average of $102.96. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $132.65.

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.