Lord Abbett & CO. LLC Has $127.57 Million Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Lord Abbett & CO. LLC lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 17.0% during the third quarter, HoldingsChannel reports. The fund owned 1,163,423 shares of the technology company’s stock after selling 238,266 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Trade Desk were worth $127,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in shares of Trade Desk during the 2nd quarter worth about $30,000. EdgeRock Capital LLC acquired a new stake in Trade Desk during the second quarter worth about $37,000. Avior Wealth Management LLC grew its position in Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Quarry LP bought a new position in Trade Desk during the second quarter valued at about $41,000. Finally, Brown Lisle Cummings Inc. raised its holdings in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 565,180 shares of the company’s stock, valued at $61,423,762.40. The trade was a 26.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 1,128,938 shares of company stock worth $125,534,054. Insiders own 9.72% of the company’s stock.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $132.42 on Friday. The firm has a 50 day simple moving average of $124.59 and a 200 day simple moving average of $108.10. The Trade Desk, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $141.53. The firm has a market cap of $65.36 billion, a P/E ratio of 217.08, a P/E/G ratio of 6.08 and a beta of 1.43.

Analyst Upgrades and Downgrades

TTD has been the topic of several recent research reports. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $85.00 to $115.00 in a report on Monday, November 25th. BTIG Research lifted their price target on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital increased their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Trade Desk in a report on Thursday. Finally, Benchmark reissued a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.94.

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.