Peregrine Capital Management LLC Cuts Position in The Trade Desk, Inc. (NASDAQ:TTD)

Peregrine Capital Management LLC cut its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 413,545 shares of the technology company’s stock after selling 19,849 shares during the quarter. Trade Desk accounts for about 1.4% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Peregrine Capital Management LLC owned approximately 0.08% of Trade Desk worth $48,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TTD. Ithaka Group LLC lifted its position in Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares in the last quarter. Venture Visionary Partners LLC raised its stake in Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after acquiring an additional 4,296 shares during the period. Nordea Investment Management AB boosted its holdings in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares during the period. Assetmark Inc. raised its stake in Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank increased its holdings in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Performance

TTD opened at $80.16 on Tuesday. The company has a market cap of $39.56 billion, a PE ratio of 131.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The stock has a 50-day moving average of $119.84 and a 200-day moving average of $115.53. The Trade Desk, Inc. has a 52-week low of $73.68 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, research analysts predict that The Trade Desk, Inc. will post 0.87 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. KeyCorp upped their price target on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. DA Davidson decreased their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup dropped their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $120.97.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by company 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.