The Trade Desk, Inc. (NASDAQ:TTD) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in The Trade Desk, Inc. (NASDAQ:TTD) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,260 shares of the technology company’s stock after purchasing an additional 2,944 shares during the period. CIBC Asset Management Inc’s holdings in Trade Desk were worth $21,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the business. Transcendent Capital Group LLC acquired a new position in Trade Desk in the second quarter valued at $30,000. EdgeRock Capital LLC purchased a new position in Trade Desk in the 2nd quarter valued at $37,000. Quarry LP acquired a new position in shares of Trade Desk during the second quarter worth about $41,000. Brown Lisle Cummings Inc. raised its stake in shares of Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in Trade Desk by 194.5% in the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $118.15 on Friday. The firm has a market cap of $58.08 billion, a price-to-earnings ratio of 193.69, a PEG ratio of 6.07 and a beta of 1.47. The firm has a fifty day moving average price of $115.25 and a two-hundred day moving average price of $102.49. The Trade Desk, Inc. has a 1-year low of $61.47 and a 1-year high of $132.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. KeyCorp upped their price target on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Needham & Company LLC increased their target price on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their target price on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 9th. DA Davidson upped their price objective on Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Citigroup upped their price target on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.65.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 20,579 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the completion of the transaction, the insider now owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. This represents a 10.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,548,289 shares of company stock worth $169,165,185 in the last 90 days. 9.72% of the stock is currently owned by company insiders.

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.