Procyon Advisors LLC Sells 284 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Procyon Advisors LLC reduced its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,991 shares of the technology company’s stock after selling 284 shares during the quarter. Procyon Advisors LLC’s holdings in Trade Desk were worth $704,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC raised its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares during the period. International Assets Investment Management LLC grew its position in Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 3.0 %

Shares of TTD opened at $124.42 on Friday. The Trade Desk, Inc. has a 1-year low of $63.63 and a 1-year high of $141.53. The firm’s 50-day moving average price is $126.30 and its 200-day moving average price is $112.80. The firm has a market capitalization of $61.41 billion, a price-to-earnings ratio of 203.97, a PEG ratio of 3.76 and a beta of 1.45.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wedbush boosted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 price target on shares of Trade Desk in a research note on Monday, October 7th. DA Davidson lifted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. KeyCorp increased their target price on Trade Desk from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, BTIG Research lifted their price target on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.55.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,086 shares of company stock valued at $4,654,466. 9.72% of the stock is currently owned by corporate 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.