Eagle Asset Management Inc. Sells 23,449 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Eagle Asset Management Inc. lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 1.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,403,100 shares of the technology company’s stock after selling 23,449 shares during the period. Trade Desk comprises about 0.8% of Eagle Asset Management Inc.’s holdings, making the stock its 23rd biggest position. Eagle Asset Management Inc.’s holdings in Trade Desk were worth $153,850,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in shares of Trade Desk during the 2nd quarter worth about $30,000. EdgeRock Capital LLC acquired a new stake in Trade Desk during the second quarter valued at approximately $37,000. Avior Wealth Management LLC lifted its position in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. Quarry LP acquired a new stake in Trade Desk in the 2nd quarter valued at $41,000. Finally, Brown Lisle Cummings Inc. grew its position in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TTD has been the subject of a number of analyst reports. StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. New Street Research cut Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target for the company. in a report on Tuesday, October 29th. Benchmark reiterated a “sell” rating and issued a $57.00 price objective on shares of Trade Desk in a research report on Friday, November 8th. Susquehanna reaffirmed a “positive” rating and set a $150.00 price target on shares of Trade Desk in a research note on Thursday. Finally, Evercore ISI lifted their price objective on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Trade Desk Stock Performance

NASDAQ TTD opened at $127.27 on Friday. The stock has a market capitalization of $62.82 billion, a price-to-earnings ratio of 208.65, a PEG ratio of 5.41 and a beta of 1.47. The Trade Desk, Inc. has a 52 week low of $61.47 and a 52 week high of $132.65. The stock’s 50 day moving average price is $116.45 and its two-hundred day moving average price is $103.32.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at $80,102,994.79. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,412,367 shares of company stock valued at $155,067,356 over the last 90 days. 9.72% of the stock is owned by corporate insiders.

About Trade Desk

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.