Jennison Associates LLC Grows Position in The Trade Desk, Inc. (NASDAQ:TTD)

Jennison Associates LLC increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,320,769 shares of the technology company’s stock after acquiring an additional 2,013,047 shares during the quarter. Trade Desk comprises approximately 1.4% of Jennison Associates LLC’s portfolio, making the stock its 18th biggest position. Jennison Associates LLC’s holdings in Trade Desk were worth $2,228,172,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Trade Desk by 99.4% during the 1st quarter. Acadian Asset Management LLC now owns 11,022 shares of the technology company’s stock valued at $962,000 after buying an additional 5,495 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Trade Desk by 19.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,095 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 5,325 shares during the period. Clearbridge Investments LLC boosted its holdings in Trade Desk by 13.8% during the 1st quarter. Clearbridge Investments LLC now owns 455,948 shares of the technology company’s stock valued at $39,859,000 after acquiring an additional 55,154 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Trade Desk by 96.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,300 shares of the technology company’s stock valued at $551,000 after acquiring an additional 3,100 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Trade Desk by 1,073.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,028 shares of the technology company’s stock worth $265,000 after acquiring an additional 2,770 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 1.8 %

TTD opened at $119.42 on Wednesday. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The stock has a market capitalization of $58.94 billion, a PE ratio of 195.77, a PEG ratio of 5.35 and a beta of 1.47. The firm has a 50-day moving average price of $116.00 and a two-hundred day moving average price of $103.17.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Needham & Company LLC lifted their price target on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Benchmark reiterated a “sell” rating and issued a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Robert W. Baird boosted their target price on Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Morgan Stanley boosted their target price on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.65.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction 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. This represents a 42.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,548,289 shares of company stock worth $169,165,185. Corporate 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.