Fred Alger Management LLC Sells 284,844 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Fred Alger Management LLC lessened its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 61.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,735 shares of the technology company’s stock after selling 284,844 shares during the period. Fred Alger Management LLC’s holdings in Trade Desk were worth $19,489,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CAP Partners LLC increased its position in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Trade Desk by 2.7% in the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares during the period. Apella Capital LLC boosted its holdings in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after buying an additional 100 shares during the last quarter. Avior Wealth Management LLC grew its position in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the period. Finally, HM Payson & Co. increased its holdings in Trade Desk by 1.0% during the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after buying an additional 102 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 0.3 %

Trade Desk stock opened at $128.55 on Friday. The Trade Desk, Inc. has a 52-week low of $61.47 and a 52-week high of $132.65. The company has a market cap of $63.45 billion, a price-to-earnings ratio of 210.74, a PEG ratio of 5.81 and a beta of 1.47. The firm’s fifty day moving average is $119.08 and its 200 day moving average is $104.88.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the transaction, the chief executive officer now owns 765,180 shares of the company’s stock, valued at approximately $83,764,254.60. The trade was a 20.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson lifted their price target on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their target price on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Loop Capital boosted their price objective on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.66.

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.