Jag Capital Management LLC Lowers Position in The Trade Desk (NASDAQ:TTD)

Jag Capital Management LLC trimmed its stake in The Trade Desk (NASDAQ:TTD - Free Report) by 70.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,629 shares of the technology company's stock after selling 61,920 shares during the quarter. Jag Capital Management LLC's holdings in Trade Desk were worth $1,402,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in Trade Desk during the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter worth approximately $26,000. Zions Bancorporation N.A. lifted its position in shares of Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Trade Desk during the first quarter worth $35,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Trade Desk by 143.5% during the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock worth $40,000 after purchasing an additional 429 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Up 1.9%

TTD opened at $69.33 on Friday. The stock has a fifty day moving average of $67.56 and a 200-day moving average of $82.41. The firm has a market capitalization of $34.07 billion, a P/E ratio of 84.55, a PEG ratio of 3.12 and a beta of 1.41. The Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company's revenue for the quarter was up 25.4% on a year-over-year basis. On average, analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of recent research reports. Citigroup boosted their target price on shares of Trade Desk from $63.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Guggenheim reduced their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Morgan Stanley boosted their target price on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. UBS Group reduced their target price on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, DA Davidson reduced their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and a consensus price target of $97.03.

Insider Buying and Selling

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

Trade Desk Company Profile

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.

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