Empirical Asset Management LLC Makes New $3.27 Million Investment in The Trade Desk, Inc. (NASDAQ:TTD)

Empirical Asset Management LLC bought a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,855 shares of the technology company’s stock, valued at approximately $3,274,000.

Several other institutional investors and hedge funds have also made changes to their positions in TTD. Federated Hermes Inc. grew its holdings in Trade Desk by 2,885.7% during the second quarter. Federated Hermes Inc. now owns 60,491 shares of the technology company’s stock worth $5,908,000 after acquiring an additional 58,465 shares during the period. Envestnet Asset Management Inc. raised its holdings in Trade Desk by 7.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 676,933 shares of the technology company’s stock valued at $66,116,000 after acquiring an additional 45,627 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Trade Desk by 130.8% in the 2nd quarter. Edgestream Partners L.P. now owns 8,636 shares of the technology company’s stock worth $843,000 after buying an additional 4,895 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Trade Desk by 11.6% in the second quarter. Axxcess Wealth Management LLC now owns 5,625 shares of the technology company’s stock worth $549,000 after acquiring an additional 584 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Trade Desk by 1.2% during the 2nd quarter. Amalgamated Bank now owns 29,871 shares of the technology company’s stock valued at $2,918,000 after buying an additional 349 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTD. Morgan Stanley lifted their target price on shares of Trade Desk from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer upped their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank started coverage on Trade Desk in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 target price for the company. DA Davidson raised their target price on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Truist Financial increased their price objective on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $132.55.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $120.84 on Friday. The firm has a 50-day moving average of $126.31 and a 200-day moving average of $112.51. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $141.53. The stock has a market cap of $59.64 billion, a PE ratio of 198.10, a PEG ratio of 3.76 and a beta of 1.45.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,086 shares of company stock valued at $4,654,466 in the last quarter. Company insiders own 9.72% of the company’s stock.

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.