Cerity Partners LLC Increases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Cerity Partners LLC grew its position in The Trade Desk, Inc. (NASDAQ:TTD) by 83.6% in the third quarter, HoldingsChannel reports. The fund owned 73,564 shares of the technology company’s stock after acquiring an additional 33,505 shares during the quarter. Cerity Partners LLC’s holdings in Trade Desk were worth $8,066,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in Trade Desk by 1.4% during the first quarter. Lazard Asset Management LLC now owns 12,755 shares of the technology company’s stock worth $1,114,000 after acquiring an additional 171 shares during the period. SVB Wealth LLC purchased a new position in Trade Desk in the 1st quarter worth approximately $231,000. iA Global Asset Management Inc. boosted its stake in Trade Desk by 4.2% during the first quarter. iA Global Asset Management Inc. now owns 41,814 shares of the technology company’s stock worth $3,655,000 after buying an additional 1,679 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Trade Desk during the 1st quarter valued at about $261,000. Finally, Swedbank AB acquired a new position in Trade Desk in the 1st quarter valued at about $15,999,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

TTD has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Trade Desk in a report on Monday, October 28th. They issued an “overweight” rating and a $150.00 price objective on the stock. Benchmark reaffirmed a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a research note on Friday, November 8th. KeyCorp raised their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upped their target price on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.66.

Insider Activity

In related news, insider Jay R. Grant sold 20,579 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $108.65, for a total value of $2,235,908.35. Following the completion of the sale, the insider now directly owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The trade was a 10.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by insiders.

Trade Desk Price Performance

Trade Desk stock opened at $128.15 on Thursday. The stock has a market cap of $63.25 billion, a PE ratio of 211.44, a P/E/G ratio of 5.86 and a beta of 1.47. The stock’s fifty day moving average is $118.32 and its two-hundred day moving average is $104.56. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65.

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.