ARK Investment Management LLC Raises Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

ARK Investment Management LLC grew its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 1,162.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,149,654 shares of the technology company’s stock after acquiring an additional 1,979,319 shares during the quarter. Trade Desk comprises 0.9% of ARK Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. ARK Investment Management LLC’s holdings in Trade Desk were worth $154,689,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Trade Desk in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Trade Desk in the 3rd quarter valued at about $26,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Trade Desk in the 3rd quarter valued at about $29,000. Ancora Advisors LLC boosted its position in shares of Trade Desk by 56.5% in the 3rd quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock valued at $38,000 after purchasing an additional 175 shares during the period. Finally, MUFG Americas Holdings Corp acquired a new stake in shares of Trade Desk in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTD. Oppenheimer upped their target price on Trade Desk from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Susquehanna increased their price objective on Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Piper Sandler increased their price objective on Trade Desk from $80.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Stifel Nicolaus increased their price objective on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Truist Financial increased their price objective on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 2,999 shares of Trade Desk stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total value of $188,217.24. Following the transaction, the director now owns 36,312 shares in the company, valued at $2,278,941.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gokul Rajaram sold 2,999 shares of Trade Desk stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total value of $188,217.24. Following the transaction, the director now owns 36,312 shares in the company, valued at $2,278,941.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay R. Grant sold 2,136 shares of Trade Desk stock in a transaction on Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the transaction, the insider now owns 139,794 shares in the company, valued at approximately $12,515,756.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 426,562 shares of company stock worth $35,446,258. 10.81% of the stock is owned by insiders.

Trade Desk Stock Up 0.2 %

TTD stock opened at $87.21 on Thursday. The Trade Desk, Inc. has a 52-week low of $57.17 and a 52-week high of $94.00. The stock’s fifty day simple moving average is $77.57 and its 200-day simple moving average is $75.03. The stock has a market capitalization of $42.64 billion, a price-to-earnings ratio of 242.26, a price-to-earnings-growth ratio of 4.80 and a beta of 1.50.

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

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.