Peregrine Capital Management LLC Sells 260,309 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Peregrine Capital Management LLC reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,659 shares of the technology company's stock after selling 260,309 shares during the period. Trade Desk comprises 0.8% of Peregrine Capital Management LLC's portfolio, making the stock its 26th largest holding. Peregrine Capital Management LLC owned 0.08% of Trade Desk worth $27,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TTD. MetLife Investment Management LLC purchased a new stake in Trade Desk during the first quarter valued at approximately $1,946,000. Synovus Financial Corp increased its stake in shares of Trade Desk by 32.8% in the first quarter. Synovus Financial Corp now owns 8,079 shares of the technology company's stock worth $561,000 after purchasing an additional 1,996 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Trade Desk by 43.0% in the first quarter. Vontobel Holding Ltd. now owns 14,220 shares of the technology company's stock worth $1,019,000 after purchasing an additional 4,276 shares in the last quarter. Aviva PLC increased its stake in shares of Trade Desk by 8.5% in the first quarter. Aviva PLC now owns 103,185 shares of the technology company's stock worth $7,146,000 after purchasing an additional 8,059 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Trade Desk by 11.2% in the first quarter. National Pension Service now owns 657,768 shares of the technology company's stock worth $45,550,000 after purchasing an additional 66,179 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Samantha Jacobson sold 15,006 shares of Trade Desk stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total value of $1,254,051.42. Following the transaction, the insider now directly owns 52,387 shares of the company's stock, valued at approximately $4,377,981.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Samantha Jacobson sold 15,006 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the transaction, the insider now directly owns 52,387 shares of the company's stock, valued at approximately $4,377,981.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 2,136 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total value of $191,236.08. Following the transaction, the insider now directly owns 139,794 shares in the company, valued at $12,515,756.82. The disclosure for this sale can be found here. Insiders have sold 492,569 shares of company stock valued at $41,213,950 in the last three months. Corporate insiders own 10.81% of the company's stock.

Trade Desk Stock Performance

Trade Desk stock traded up $0.16 during midday trading on Tuesday, reaching $86.84. The company's stock had a trading volume of 1,700,483 shares, compared to its average volume of 4,783,575. The Trade Desk, Inc. has a fifty-two week low of $59.36 and a fifty-two week high of $94.00. The firm has a market capitalization of $42.46 billion, a PE ratio of 241.23, a P/E/G ratio of 4.73 and a beta of 1.50. The stock's 50 day simple moving average is $80.79 and its 200 day simple moving average is $75.30.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). The business had revenue of $605.80 million during the quarter, compared to analysts' expectations of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. Equities analysts predict that The Trade Desk, Inc. will post 0.79 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TTD. Piper Sandler increased their price objective on shares of Trade Desk from $80.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. Truist Financial upped their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. BMO Capital Markets upped their target price on shares of Trade Desk from $88.00 to $107.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. Seaport Res Ptn restated a "neutral" rating on shares of Trade Desk in a research report on Monday, February 12th. Finally, Oppenheimer upped their target price on shares of Trade Desk from $85.00 to $105.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Trade Desk 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.