ARK Investment Management LLC Sells 553,187 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

ARK Investment Management LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 30.4% in the third quarter, Holdings Channel reports. The fund owned 1,265,565 shares of the technology company’s stock after selling 553,187 shares during the period. Trade Desk comprises approximately 1.3% of ARK Investment Management LLC’s holdings, making the stock its 24th biggest position. ARK Investment Management LLC’s holdings in Trade Desk were worth $138,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TTD. Transcendent Capital Group LLC acquired a new stake in Trade Desk in the 2nd quarter valued at about $30,000. EdgeRock Capital LLC bought a new position in Trade Desk in the 2nd quarter worth approximately $37,000. Quarry LP acquired a new position in Trade Desk during the 2nd quarter worth $41,000. Brown Lisle Cummings Inc. boosted its position in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after buying an additional 150 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in shares of Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Insider Transactions at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 3,130 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at $68,930,351.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This represents a 0.00 % 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, CFO Laura Schenkein sold 3,130 shares of Trade Desk stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.33, for a total transaction of $310,902.90. Following the completion of the sale, the chief financial officer now owns 693,953 shares of the company’s stock, valued at $68,930,351.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TTD. Oppenheimer raised their price target on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. New Street Research cut shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 price target for the company. in a research report on Tuesday, October 29th. BTIG Research boosted their price target on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. KeyCorp lifted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Bank of America began coverage on Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.60.

Trade Desk Trading Up 6.2 %

NASDAQ TTD opened at $132.53 on Friday. The firm’s fifty day moving average price is $112.41 and its two-hundred day moving average price is $100.68. The Trade Desk, Inc. has a 1 year low of $60.23 and a 1 year high of $132.65. The firm has a market capitalization of $65.15 billion, a P/E ratio of 265.06, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. Trade Desk’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, research analysts anticipate that The Trade Desk, Inc. will post 0.86 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.