Summit Trail Advisors LLC Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Summit Trail Advisors LLC bought a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,553 shares of the technology company’s stock, valued at approximately $390,000.

A number of other hedge funds also recently added to or reduced their stakes in TTD. Lazard Asset Management LLC increased its holdings in Trade Desk by 1.4% during the 1st quarter. Lazard Asset Management LLC now owns 12,755 shares of the technology company’s stock worth $1,114,000 after purchasing an additional 171 shares during the period. SVB Wealth LLC acquired a new position in shares of Trade Desk during the first quarter worth about $231,000. Silvercrest Asset Management Group LLC increased its stake in shares of Trade Desk by 7.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 51,086 shares of the technology company’s stock worth $4,466,000 after buying an additional 3,532 shares during the period. California State Teachers Retirement System raised its holdings in Trade Desk by 0.8% in the first quarter. California State Teachers Retirement System now owns 704,304 shares of the technology company’s stock valued at $61,570,000 after acquiring an additional 5,870 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in Trade Desk by 4.2% in the first quarter. iA Global Asset Management Inc. now owns 41,814 shares of the technology company’s stock worth $3,655,000 after acquiring an additional 1,679 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Macquarie increased their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup increased their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their price target on Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America began coverage on Trade Desk in a report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price objective on the stock. Finally, UBS Group boosted their target price on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.66.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 765,180 shares of the company’s stock, valued at approximately $83,764,254.60. This represents a 20.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,128,938 shares of company stock worth $125,534,054. Company insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

NASDAQ:TTD opened at $128.98 on Wednesday. The firm has a market cap of $63.66 billion, a price-to-earnings ratio of 211.44, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. The firm’s fifty day moving average price is $117.86 and its 200 day moving average price is $104.26. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65.

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.