Procyon Advisors LLC Sells 284 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Procyon Advisors LLC cut its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,991 shares of the technology company’s stock after selling 284 shares during the period. Procyon Advisors LLC’s holdings in Trade Desk were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. Jennison Associates LLC boosted its position in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Edgewood Management LLC grew its holdings in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. 1832 Asset Management L.P. raised its position in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after acquiring an additional 270,800 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Wolfe Research lifted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $132.55.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,086 shares of company stock valued at $4,654,466. 9.72% of the stock is owned by company insiders.

Trade Desk Stock Performance

Shares of TTD stock opened at $124.42 on Friday. The Trade Desk, Inc. has a 52 week low of $63.63 and a 52 week high of $141.53. The firm’s 50-day simple moving average is $126.30 and its two-hundred day simple moving average is $112.80. The firm has a market cap of $61.41 billion, a price-to-earnings ratio of 203.97, a P/E/G ratio of 3.76 and a beta of 1.45.

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.