The Trade Desk, Inc. (NASDAQ:TTD) Stock Position Lifted by abrdn plc

abrdn plc lifted its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 100.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,854 shares of the technology company’s stock after purchasing an additional 76,655 shares during the quarter. abrdn plc’s holdings in Trade Desk were worth $10,999,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. ARK Investment Management LLC lifted its holdings in shares of Trade Desk by 1,162.0% in the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock valued at $154,689,000 after buying an additional 1,979,319 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Trade Desk in the third quarter valued at $99,035,000. International Assets Investment Management LLC lifted its holdings in shares of Trade Desk by 6,600.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after buying an additional 1,075,269 shares during the period. Invesco Ltd. lifted its holdings in shares of Trade Desk by 9.6% in the third quarter. Invesco Ltd. now owns 5,899,407 shares of the technology company’s stock valued at $461,039,000 after buying an additional 517,842 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Trade Desk by 31.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,838,998 shares of the technology company’s stock valued at $132,334,000 after purchasing an additional 438,733 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total transaction of $6,132,750.00. Following the transaction, the chief executive officer now owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total transaction of $6,132,750.00. Following the transaction, the chief executive officer now owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn E. Falberg sold 103,030 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares in the company, valued at approximately $19,869,677.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 492,170 shares of company stock valued at $41,250,398. Insiders own 10.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TTD shares. Wells Fargo & Company upped their target price on Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. KeyCorp upped their target price on Trade Desk from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Piper Sandler upped their target price on Trade Desk from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Royal Bank of Canada upped their price target on Trade Desk from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Truist Financial upped their price target on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Trade Desk Price Performance

Shares of TTD stock opened at $83.34 on Friday. The Trade Desk, Inc. has a fifty-two week low of $59.98 and a fifty-two week high of $94.00. The stock’s 50-day moving average is $83.40 and its two-hundred day moving average is $75.68. The firm has a market cap of $40.75 billion, a P/E ratio of 231.51, a PEG ratio of 4.62 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The company had revenue of $605.80 million for the quarter, compared to analyst estimates of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. As a group, research analysts expect that The Trade Desk, Inc. will post 0.79 EPS for the current year.

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.