Meridian Wealth Management LLC Acquires 751 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Meridian Wealth Management LLC increased its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 16,488 shares of the technology company’s stock after purchasing an additional 751 shares during the period. Meridian Wealth Management LLC’s holdings in Trade Desk were worth $1,808,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TTD. Baillie Gifford & Co. lifted its position in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its position in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Edgewood Management LLC lifted its position in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Trade Desk by 10.5% during the 2nd 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 last quarter. Finally, Jericho Capital Asset Management L.P. lifted its position in Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after acquiring an additional 100,000 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the sale, the chief executive officer now directly owns 765,180 shares of the company’s stock, valued at $83,764,254.60. This represents a 20.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of the 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 directly owns 29,991 shares in the company, 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. Over the last ninety days, insiders have sold 1,412,367 shares of company stock valued at $155,067,356. 9.72% of the stock is currently owned by insiders.

Trade Desk Trading Up 1.8 %

Shares of Trade Desk stock opened at $129.70 on Friday. The stock has a market capitalization of $64.02 billion, a price-to-earnings ratio of 212.62, a P/E/G ratio of 5.77 and a beta of 1.47. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65. The firm’s 50-day moving average price is $116.90 and its two-hundred day moving average price is $103.48.

Analysts Set New Price Targets

TTD has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on shares of Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital boosted their target price on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America started coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Wedbush upped their price objective on shares of Trade Desk from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, KeyCorp upped their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.66.

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.