Cathie Wood Was Buying These 5 Stocks for 2024

2. Trade Desk Inc (NASDAQ:TTD)

Cathie Wood’s Stake: $154,689,069

Real-time programmatic marketing automation technologies company Trade Desk Inc (NASDAQ:TTD) saw an increased interest from Cathie Wood during the fourth quarter of 2023 as ARK upped its hold in Trade Desk Inc (NASDAQ:TTD) by a whopping 1163%. Cathie Wood, as of the end of 2023, owns a $155 million stake in Trade Desk Inc (NASDAQ:TTD).

Trade Desk Inc (NASDAQ:TTD) has been a profitable investment for Cathie Wood. The stock recently jumped after Trade Desk Inc (NASDAQ:TTD) posted better-than-expected Q4’2023 results and gave a strong guidance. Here’s what Citi analyst Ygal Arounian said about Trade Desk Inc (NASDAQ:TTD) while increasing his price target for the stock to $110:

“After the 4Q guide indicated growth stepping down to high-teens, we saw investors raise questions on fundamental growth drivers for 2024. While we still see the outperformance in the quarter as being driven by a return to a better macro since November, which has continued into 1Q, more than vindication of any questions around CTV CPM growth or the impact of cookie deprecation, management spent time on why it believes TTD is positioned well to manage a changing CTV landscape, and cookie-deprecation.”

Polen U.S. SMID Company Growth Strategy stated the following regarding The Trade Desk, Inc. (NASDAQ:TTD) in its fourth quarter 2023 investor letter:

“During the quarter, we trimmed our exposure in several existing holdings and eliminated our position in The Trade Desk, Inc. (NASDAQ:TTD). As a reminder, we have been using The Trade Desk, a leading programmatic advertising platform, as a source of funds over the past several months, mainly due to the high market capitalization and significant stock price appreciation, reducing our expected return outlook for the stock.”