Peregrine Capital Management LLC Has $31.73 Million Stake in The Trade Desk (NASDAQ:TTD)

Peregrine Capital Management LLC grew its holdings in shares of The Trade Desk (NASDAQ:TTD - Free Report) by 40.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 579,877 shares of the technology company's stock after purchasing an additional 166,332 shares during the period. Trade Desk accounts for 1.1% of Peregrine Capital Management LLC's portfolio, making the stock its 20th biggest position. Peregrine Capital Management LLC owned approximately 0.12% of Trade Desk worth $31,731,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the fourth quarter valued at $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth approximately $26,000. Zions Bancorporation N.A. grew its holdings in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Trade Desk in the first quarter valued at about $35,000. Finally, Pinnacle Bancorp Inc. increased its holdings in Trade Desk by 143.5% in the first quarter. Pinnacle Bancorp Inc. now owns 728 shares of the technology company's stock worth $40,000 after buying an additional 429 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Trading Up 0.1%

NASDAQ TTD traded up $0.09 during trading hours on Wednesday, reaching $73.58. 4,749,183 shares of the company's stock were exchanged, compared to its average volume of 6,358,789. The firm has a fifty day moving average of $69.02 and a 200-day moving average of $81.16. The Trade Desk has a one year low of $42.96 and a one year high of $141.53. The stock has a market cap of $36.16 billion, a PE ratio of 89.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share 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 period last year, the company posted $0.26 earnings per share. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. As a group, research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have recently issued reports on TTD shares. Wells Fargo & Company downgraded Trade Desk from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. JMP Securities reiterated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. HSBC set a $75.00 target price on shares of Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Citigroup lifted their price target on Trade Desk from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wedbush reiterated an "outperform" rating and set a $86.00 price target (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and a consensus price target of $97.27.

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.