Brown Brothers Harriman & Co. Purchases Shares of 468 The Trade Desk, Inc. (NASDAQ:TTD)

Brown Brothers Harriman & Co. acquired a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 468 shares of the technology company’s stock, valued at approximately $51,000.

Several other hedge funds have also modified their holdings of the stock. Edgewood Management LLC raised its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC increased its holdings in shares of 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 buying an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of 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. International Assets Investment Management LLC boosted its holdings in Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after acquiring an additional 1,558,465 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after acquiring an additional 872,555 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DA Davidson raised their price objective on Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup lifted their price target on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price target on shares of Trade Desk in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $124.66.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 80,649 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the sale, the chief executive officer now owns 7,330 shares of the company’s stock, valued at $846,615. This represents a 91.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,128,938 shares of company stock valued at $125,534,054 in the last quarter. Insiders own 9.72% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $128.15 on Friday. The company has a market capitalization of $63.25 billion, a price-to-earnings ratio of 210.08, a price-to-earnings-growth ratio of 5.86 and a beta of 1.47. The Trade Desk, Inc. has a one year low of $61.47 and a one year high of $132.65. The stock has a 50-day simple moving average of $118.72 and a 200 day simple moving average of $104.72.

Trade Desk 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.