Logan Capital Management Inc. Reduces Stake in The Trade Desk, Inc.

Logan Capital Management Inc. has decreased its investment in The Trade Desk, Inc. (NASDAQ:TTD) by 1.4% during the third quarter. This information was revealed in the firm's recent 13F filing with the Securities and Exchange Commission (SEC). After selling 3,852 shares during this period, Logan Capital now owns 271,274 shares of the technology company's stock. The Trade Desk represents approximately 1.2% of Logan Capital Management's overall investment portfolio, positioning it as the company’s 14th largest asset.

As per the latest SEC filing, Logan Capital's holdings in The Trade Desk are valued at about $29,745,000, indicating a minor reduction in its stake.

Increased Holdings by Other Funds

Other hedge funds and institutional investors have also been active in buying and selling shares of The Trade Desk. For instance, Ithaka Group LLC expanded its investment by 4.5% in the third quarter, accumulating a total of 112,888 shares valued at $12,378,000 after acquiring an additional 4,836 shares in the latest quarter. Similarly, Venture Visionary Partners LLC boosted its stake by an impressive 33.0%, bringing its total to 17,308 shares worth $1,898,000 following a purchase of 4,296 shares.

Assetmark Inc. significantly ramped up its holdings, achieving a 2,461.2% increase, now owning 73,559 shares valued at $8,066,000 after buying 70,687 additional shares recently. Furthermore, the Swiss National Bank slightly increased its position by 0.3%, now owning 1,321,400 shares valued at $144,892,000 after adding 4,500 shares. Lastly, UBS AM increased its position by 3.3% and now owns 2,109,380 shares valued at $231,294,000 following the purchase of 68,206 shares. Currently, institutional investors encompass about 67.77% of the total stock of The Trade Desk.

Stock Performance Overview

On Friday, TTD stock decreased by $0.49 to reach $133.08 during mid-day trading, with a trading volume of 111,810 shares, significantly lower than its average volume of 3,819,655 shares. The stock has a 50-day moving average of $124.20 and a 200-day moving average of $107.84. The total market capitalization for The Trade Desk is $65.68 billion with a PE ratio of 218.97, a price-to-earnings-growth ratio of 6.08, and a beta of 1.43. Over the past year, the stock has experienced a low of $61.47 and a high of $141.53.

Insider Transactions

Recent insider activity reveals significant trades within The Trade Desk’s management. On October 9th, CFO Laura Schenkein sold 25,000 shares at an average price of $115.43, yielding total proceeds of $2,885,750. Following this sale, her ownership decreased by 3.48%, leaving her with 693,953 shares valued at approximately $80,102,994.79. Additionally, insider Jay R. Grant sold 20,579 shares on September 30th, at an average price of $108.65, resulting in total proceeds of $2,235,908.35. Post-transaction, Grant holds 178,853 shares worth $19,432,378.45 after a 10.32% decrease in ownership. Notably, within the past ninety days, insiders have sold 1,128,938 shares worth $125,534,054, reflecting a growing trend of selling among corporate insiders, who own 9.72% of the company’s stock.

Analyst Ratings and Insights

Various equity research analysts have expressed their opinions regarding The Trade Desk. Stifel Nicolaus recently raised its target price from $111.00 to $136.00 while maintaining a "buy" rating as of October 14th. Moffett Nathanson started covering The Trade Desk with a neutral rating and a price target of $100.00 on September 23rd. UBS Group changed its price objective from $140.00 to $150.00, also maintaining a buy rating. Furthermore, Bank of America initiated coverage with a buy rating and a target of $135.00 on September 4th. Overall, one analyst holds a sell rating, six have a hold, and twenty-five analysts have given a buy rating. MarketBeat data indicates a consensus rating of "Moderate Buy" for The Trade Desk with an average target price of $124.94.

Overview of The Trade Desk

The Trade Desk, Inc. operates as a leading technology company that offers a self-service cloud-based platform. This platform empowers buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various channels including video, display, audio, digital-out-of-home, native, and social media. It caters to multiple devices such as computers, mobile devices, televisions, and streaming platforms.

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