Canopy Partners LLC Acquires New Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Canopy Partners LLC bought a new position in The Trade Desk, Inc. (NASDAQ:TTD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,314 shares of the technology company’s stock, valued at approximately $254,000.

Several other large investors also recently made changes to their positions in TTD. Acadian Asset Management LLC lifted its holdings in Trade Desk by 99.4% in the first quarter. Acadian Asset Management LLC now owns 11,022 shares of the technology company’s stock worth $962,000 after purchasing an additional 5,495 shares during the period. UniSuper Management Pty Ltd raised its holdings in Trade Desk by 96.9% during the first quarter. UniSuper Management Pty Ltd now owns 6,300 shares of the technology company’s stock worth $551,000 after purchasing an additional 3,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Trade Desk by 1,073.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,028 shares of the technology company’s stock worth $265,000 after purchasing an additional 2,770 shares during the period. EP Wealth Advisors LLC boosted its stake in Trade Desk by 51.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,254 shares of the technology company’s stock valued at $896,000 after purchasing an additional 3,473 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Trade Desk by 1.4% during the 1st quarter. Lazard Asset Management LLC now owns 12,755 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TTD. KeyCorp raised their target price on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Needham & Company LLC upped their price target on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Wedbush raised their price objective on Trade Desk from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price (up from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. Finally, Citigroup increased their price target on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two research 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 company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Stock Performance

NASDAQ:TTD opened at $129.70 on Friday. The firm’s 50-day moving average is $116.90 and its 200-day moving average is $103.48. The company has a market cap of $64.02 billion, a price-to-earnings ratio of 212.62, a PEG ratio of 5.77 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.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 20,579 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the transaction, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This trade represents a 10.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. The trade was a 4.52 % 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 three months. 9.72% of the stock is owned by corporate insiders.

Trade Desk Company 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.