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

Logan Capital Management Inc. has announced a reduction in its holdings of The Trade Desk, Inc. (NASDAQ:TTD) by 1.4% during the third quarter. This update comes from the firm’s latest 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 3,852 shares, Logan Capital now holds a total of 271,274 shares in the technology company. The Trade Desk represents approximately 1.2% of Logan Capital Management Inc.'s overall investment portfolio, making it the firm’s 14th largest holding. According to the latest SEC filing, Logan Capital's total holdings in The Trade Desk are valued at around $29,745,000.

Recent Activity by Other Hedge Funds

In addition to Logan Capital's adjustments, other hedge funds have also been active with their shares of The Trade Desk. For instance, Ithaka Group LLC increased its stake by 4.5% in the third quarter, bringing its total to 112,888 shares valued at $12,378,000 after acquiring an additional 4,836 shares. Venture Visionary Partners LLC reported a remarkable 33.0% increase in their stake during the same period, now holding 17,308 shares worth $1,898,000 after buying an extra 4,296 shares. Furthermore, Assetmark Inc. dramatically increased its holdings in The Trade Desk by 2,461.2%, acquiring 73,559 shares valued at $8,066,000 after purchasing 70,687 additional shares. Swiss National Bank also made a slight increase of 0.3% to own a total of 1,321,400 shares worth about $144,892,000. Lastly, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The Trade Desk by 3.3%, now holding 2,109,380 shares valued at $231,294,000. It is notable that institutional investors currently own 67.77% of The Trade Desk's stock.

Current Stock Performance

On the trading front, shares of The Trade Desk (TTD) fell by $0.49 during midday trading on Friday, settling at $133.08. The trading volume was recorded at 111,810 shares, well below the average of 3,819,655. The stock currently has a 50-day moving average of $124.20 and a 200-day moving average of $107.84. With a market capitalization of $65.68 billion, The Trade Desk has a Price-to-Earnings (PE) ratio of 218.97 and a Price-to-Earnings-Growth (PEG) ratio of 6.08, accompanied by a beta of 1.43. The stock has experienced a 12-month low of $61.47 and a high of $141.53.

Insider Transactions

In recent insider activity, CFO Laura Schenkein sold 25,000 shares of The Trade Desk on October 9th, with the shares sold at an average price of $115.43, totaling approximately $2,885,750. Following this transaction, Schenkein’s direct ownership stands at 693,953 shares, valued at around $80,102,994.79, marking a 3.48% decrease in her ownership. Additionally, insider Jay R. Grant sold 20,579 shares at an average price of $108.65 on September 30th, generating $2,235,908.35 from the transaction, leading to a direct ownership of 178,853 shares valued at $19,432,378.45, which is a 10.32% decline in ownership. Over the past ninety days, a total of 1,128,938 shares have been sold by insiders, amounting to $125,534,054, and corporate insiders currently hold 9.72% of the company’s stock.

Analyst Opinions

Various equity research analysts have weighed in on The Trade Desk. Stifel Nicolaus raised their price target for the shares from $111.00 to $136.00 and issued a “buy” rating in a report from October 14th. Moffett Nathanson initiated coverage with a “neutral” rating and set a price target of $100.00 on September 23rd. UBS Group has also adjusted their price objective from $140.00 to $150.00 while maintaining a “buy” rating in a note published on November 8th. Bank of America commenced coverage with a “buy” rating and a price target of $135.00 on September 4th. Wedbush reiterated their “outperform” rating, issuing a price objective of $135.00. Overall, one analyst rates the stock as a sell, six give it a hold rating, and twenty-five have assigned a buy rating, leading to a consensus rating of “Moderate Buy” with a consensus price target of $124.94, as per data from MarketBeat.com.

About The Trade Desk

The Trade Desk, Inc. operates as a technology firm in the United States and internationally. It provides a self-service cloud-based platform designed to enable buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns. This service covers various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social media, available across devices like computers, mobile devices, televisions, and streaming platforms.

Investment, Trade, Shares