Truvestments Capital LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Truvestments Capital LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,160 shares of the technology company’s stock, valued at approximately $346,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Venture Visionary Partners LLC increased its stake in shares of Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares in the last quarter. Ithaka Group LLC grew its holdings in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after purchasing an additional 4,836 shares during the period. Assetmark Inc. increased its stake in Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares in the last quarter. Swiss National Bank raised its holdings in shares of Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after purchasing an additional 4,500 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Trade Desk by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock worth $9,179,000 after purchasing an additional 5,148 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TTD shares. Oppenheimer boosted their target price on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Macquarie upped their target price on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America began coverage on Trade Desk in a report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a research note on Monday, October 7th. Finally, BTIG Research raised their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Stock Performance

NASDAQ TTD opened at $129.35 on Tuesday. The company has a market capitalization of $63.84 billion, a PE ratio of 212.05, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $132.65. The company has a 50-day simple moving average of $117.38 and a 200 day simple moving average of $103.98.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the transaction, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 565,180 shares of the company’s stock, valued at approximately $61,423,762.40. This trade represents a 26.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,128,938 shares of company stock valued at $125,534,054 in the last three months. Company 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.