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

Jennison Associates LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 31.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,883,374 shares of the technology company’s stock after selling 6,437,395 shares during the quarter. Trade Desk makes up approximately 1.0% of Jennison Associates LLC’s holdings, making the stock its 24th biggest holding. Jennison Associates LLC’s holdings in Trade Desk were worth $1,631,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in Trade Desk by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,440 shares of the technology company’s stock worth $2,387,000 after purchasing an additional 2,593 shares in the last quarter. Algert Global LLC grew its stake in shares of Trade Desk by 22.5% during the second quarter. Algert Global LLC now owns 4,893 shares of the technology company’s stock worth $478,000 after buying an additional 900 shares during the last quarter. Quarry LP bought a new position in shares of Trade Desk in the 2nd quarter valued at $41,000. Truist Financial Corp boosted its holdings in shares of Trade Desk by 10.6% during the 2nd quarter. Truist Financial Corp now owns 110,300 shares of the technology company’s stock valued at $10,773,000 after acquiring an additional 10,582 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Trade Desk during the second quarter valued at about $4,214,000. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TTD shares. 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 research report on Friday, November 8th. Piper Sandler restated an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. UBS Group boosted their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. KeyCorp upped their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction 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 sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,982 shares of company stock valued at $68,954,147. Corporate insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $118.68 on Monday. The Trade Desk, Inc. has a 1 year low of $66.56 and a 1 year high of $141.53. The company has a market cap of $58.58 billion, a PE ratio of 194.56, a P/E/G ratio of 3.75 and a beta of 1.45. The stock’s 50-day moving average is $125.48 and its 200 day moving average is $114.40.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results 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). The company had revenue of $628.02 million for the quarter, compared to analysts’ expectations of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same quarter in the prior year, the firm earned $0.08 EPS. Analysts expect that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

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.