Jennison Associates LLC Acquires 2,013,047 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Jennison Associates LLC increased its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,320,769 shares of the technology company’s stock after acquiring an additional 2,013,047 shares during the quarter. Trade Desk comprises about 1.4% of Jennison Associates LLC’s investment portfolio, making the stock its 18th largest holding. Jennison Associates LLC owned approximately 4.13% of Trade Desk worth $2,228,172,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TTD. CAP Partners LLC increased its holdings in Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after buying an additional 86 shares during the period. Allworth Financial LP boosted 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 valued at $410,000 after purchasing an additional 97 shares in the last quarter. Apella Capital LLC boosted its stake in shares of Trade Desk by 1.9% in the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after purchasing an additional 100 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in shares of Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 102 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the sale, the insider now directly owns 178,853 shares in the company, valued at $19,432,378.45. This represents a 10.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. This represents a 42.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,548,289 shares of company stock valued at $169,165,185 over the last three months. 9.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target on the stock. Needham & Company LLC raised their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Finally, Benchmark reiterated a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.65.

Trade Desk Stock Performance

Shares of NASDAQ:TTD opened at $119.42 on Wednesday. The company has a market capitalization of $58.94 billion, a P/E ratio of 195.77, a price-to-earnings-growth ratio of 5.35 and a beta of 1.47. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $132.65. The company’s 50-day moving average is $116.00 and its 200 day moving average is $103.17.

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.