Jennison Associates LLC Has $1.63 Billion Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Jennison Associates LLC lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,883,374 shares of the technology company’s stock after selling 6,437,395 shares during the quarter. Trade Desk makes up about 1.0% of Jennison Associates LLC’s investment portfolio, making the stock its 24th largest position. Jennison Associates LLC owned approximately 2.81% of Trade Desk worth $1,631,713,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Edgewood Management LLC boosted its stake in shares of Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Trade Desk by 10,856.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after acquiring an additional 1,558,465 shares during the period. Wellington Management Group LLP raised its position in shares of Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after acquiring an additional 551,925 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Trade Desk by 1,809.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock valued at $48,752,000 after purchasing an additional 421,333 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $118.68 on Monday. The company’s 50-day moving average is $125.48 and its 200-day moving average is $114.40. The firm has a market capitalization of $58.58 billion, a PE ratio of 194.56, a PEG ratio of 3.75 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. The company had revenue of $628.02 million for the quarter, compared to analyst estimates of $619.89 million. During the same quarter last year, the business earned $0.08 earnings per share. Analysts predict that The Trade Desk, Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,982 shares of company stock valued at $68,954,147 in the last ninety days. 9.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on TTD. Citigroup upped their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Scotiabank began coverage on shares of Trade Desk in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 target price for the company. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Finally, KeyCorp boosted their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.13.

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.