Chicago Capital LLC Decreases Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

Chicago Capital LLC decreased its position in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,351 shares of the technology company's stock after selling 50,786 shares during the period. Chicago Capital LLC owned approximately 0.10% of Trade Desk worth $26,832,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock worth $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares during the last quarter. Norges Bank purchased a new position in Trade Desk in the 4th quarter worth approximately $524,187,000. FMR LLC lifted its holdings in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Trade Desk by 13.2% in the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company's stock valued at $422,150,000 after purchasing an additional 418,911 shares during the period. 67.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TTD. Morgan Stanley increased their price objective on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. UBS Group dropped their target price on Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Benchmark upgraded shares of Trade Desk from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Royal Bank of Canada decreased their price objective on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler raised their price objective on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.15.

Trade Desk Stock Up 3.4%

Trade Desk stock opened at $70.25 on Tuesday. The Trade Desk, Inc. has a 12 month low of $42.96 and a 12 month high of $141.53. The stock has a market cap of $34.52 billion, a price-to-earnings ratio of 90.06, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The business has a 50 day moving average price of $64.23 and a two-hundred day moving average price of $85.91.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In other Trade Desk news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.