Peregrine Asset Advisers Inc. Takes Position in The Trade Desk, Inc. (NASDAQ:TTD)

Peregrine Asset Advisers Inc. purchased a new position in shares of The Trade Desk, Inc. (NASDAQ:TTD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,657 shares of the technology company’s stock, valued at approximately $3,800,000. Trade Desk makes up about 1.3% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after buying an additional 97 shares in the last quarter. Apella Capital LLC grew its position in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after purchasing an additional 100 shares during the period. HM Payson & Co. raised its position in shares of Trade Desk by 1.0% during the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 102 shares during the last quarter. Wealth Alliance lifted its stake in Trade Desk by 0.6% in the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after buying an additional 106 shares in the last quarter. Finally, Parisi Gray Wealth Management boosted its holdings in Trade Desk by 2.6% in the 3rd quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock worth $486,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Trade Desk stock opened at $125.13 on Monday. The stock’s fifty day moving average is $112.83 and its two-hundred day moving average is $101.27. The Trade Desk, Inc. has a fifty-two week low of $60.23 and a fifty-two week high of $132.65. The firm has a market capitalization of $61.51 billion, a price-to-earnings ratio of 205.13, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 13.34% and a return on equity of 13.73%. The business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same period last year, the company posted $0.07 EPS. The company’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TTD shares. StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a research note on Friday. BTIG Research boosted their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. KeyCorp lifted their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.69.

Insider Buying and Selling at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is owned by insiders.

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.