ARK Investment Management LLC Has $154.69 Million Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

ARK Investment Management LLC increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1,162.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,149,654 shares of the technology company’s stock after buying an additional 1,979,319 shares during the period. Trade Desk comprises approximately 0.9% of ARK Investment Management LLC’s portfolio, making the stock its 27th largest position. ARK Investment Management LLC owned 0.44% of Trade Desk worth $154,689,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its position in shares of Trade Desk by 0.5% during the 3rd quarter. AE Wealth Management LLC now owns 85,055 shares of the technology company’s stock valued at $6,647,000 after acquiring an additional 403 shares during the period. California Public Employees Retirement System lifted its position in shares of Trade Desk by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 808,509 shares of the technology company’s stock valued at $63,185,000 after acquiring an additional 11,356 shares during the period. Nordea Investment Management AB lifted its position in shares of Trade Desk by 31.7% during the 4th quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock valued at $44,226,000 after acquiring an additional 147,717 shares during the period. Riverbridge Partners LLC lifted its position in shares of Trade Desk by 14,112.7% during the 3rd quarter. Riverbridge Partners LLC now owns 479,962 shares of the technology company’s stock valued at $37,509,000 after acquiring an additional 476,585 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Trade Desk by 2.3% during the 2nd quarter. BlackRock Inc. now owns 22,267,061 shares of the technology company’s stock valued at $1,719,462,000 after acquiring an additional 499,199 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TTD shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Trade Desk in a research report on Thursday, March 21st. Stifel Nicolaus boosted their price target on shares of Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. BMO Capital Markets boosted their price target on shares of Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Benchmark upped their target price on shares of Trade Desk from $32.00 to $42.00 and gave the stock a “sell” rating in a research note on Friday, February 16th. Finally, BTIG Research boosted their price target on shares of Trade Desk from $91.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Insider Buying and Selling

In related news, Director Kathryn E. Falberg sold 103,030 shares of Trade Desk stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the completion of the sale, the director now directly owns 242,609 shares in the company, valued at approximately $19,869,677.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Trade Desk news, Director Kathryn E. Falberg sold 103,030 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $81.90, for a total transaction of $8,438,157.00. Following the completion of the sale, the director now directly owns 242,609 shares in the company, valued at approximately $19,869,677.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 2,999 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $62.76, for a total value of $188,217.24. Following the sale, the director now owns 36,312 shares of the company’s stock, valued at $2,278,941.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 426,562 shares of company stock worth $35,446,258. 10.81% of the stock is owned by corporate insiders.

Trade Desk Stock Performance

NASDAQ TTD opened at $87.21 on Thursday. The Trade Desk, Inc. has a one year low of $57.17 and a one year high of $94.00. The stock has a 50-day moving average of $77.57 and a 200 day moving average of $75.03. The company has a market capitalization of $42.64 billion, a price-to-earnings ratio of 242.26, a PEG ratio of 4.80 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The business had revenue of $605.80 million during the quarter, compared to the consensus estimate of $582.61 million. On average, equities analysts predict that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Trade Desk Company 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.