Peregrine Capital Management LLC Sells 19,849 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Peregrine Capital Management LLC trimmed its position in The Trade Desk, Inc. (NASDAQ:TTD - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 413,545 shares of the technology company's stock after selling 19,849 shares during the quarter. Trade Desk makes up 1.4% of Peregrine Capital Management LLC's holdings, making the stock its 14th largest position. Peregrine Capital Management LLC owned about 0.08% of Trade Desk worth $48,604,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Exchange Traded Concepts LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $35,000. Avior Wealth Management LLC raised its stake in shares of Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Trade Desk by 66.7% during the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company's stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, 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. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last quarter. Company insiders own 9.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TTD. Benchmark reissued a "sell" rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. Stifel Nicolaus reduced their price target on shares of Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, February 13th. New Street Research upgraded shares of Trade Desk from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $85.00 to $115.00 in a report on Monday, November 25th. Scotiabank cut their price target on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $119.45.

Trade Desk Stock Performance

NASDAQ TTD traded down $3.67 on Friday, hitting $72.06. The stock had a trading volume of 12,810,867 shares, compared to its average volume of 7,245,894. The firm has a 50-day moving average of $115.27 and a 200-day moving average of $114.88. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of 92.38, a price-to-earnings-growth ratio of 3.15 and a beta of 1.45. The Trade Desk, Inc. has a 52-week low of $71.61 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

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.