Chicago Capital LLC Takes $13.34 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

Chicago Capital LLC acquired a new stake in The Trade Desk, Inc. (NASDAQ:TTD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 185,357 shares of the technology company’s stock, valued at approximately $13,338,000.

A number of other hedge funds also recently made changes to their positions in TTD. Covenant Asset Management LLC grew its holdings in shares of Trade Desk by 0.4% in the 4th quarter. Covenant Asset Management LLC now owns 138,420 shares of the technology company’s stock worth $9,961,000 after purchasing an additional 516 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Trade Desk by 1.7% in the 4th quarter. Congress Park Capital LLC now owns 68,573 shares of the technology company’s stock worth $4,935,000 after purchasing an additional 1,154 shares during the last quarter. Strategic Advisors LLC grew its holdings in shares of Trade Desk by 9.4% in the 4th quarter. Strategic Advisors LLC now owns 2,820 shares of the technology company’s stock worth $203,000 after purchasing an additional 242 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Trade Desk by 9.1% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 4,331 shares of the technology company’s stock worth $312,000 after purchasing an additional 362 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its holdings in shares of Trade Desk by 7.8% in the 4th quarter. Griffin Asset Management Inc. now owns 67,991 shares of the technology company’s stock worth $4,893,000 after purchasing an additional 4,918 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $87.31 on Tuesday. The company has a market capitalization of $42.69 billion, a P/E ratio of 242.53, a price-to-earnings-growth ratio of 4.82 and a beta of 1.50. The company’s 50 day moving average price is $78.79 and its two-hundred day moving average price is $74.98. The Trade Desk, Inc. has a 52 week low of $57.17 and a 52 week high of $94.00.

Trade Desk (NASDAQ:TTD) last announced its 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 company had revenue of $605.80 million for the quarter, compared to analyst estimates of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. Analysts forecast that The Trade Desk, Inc. will post 0.79 earnings per share for the current year.

Insider Transactions at Trade Desk

In other news, Director Gokul Rajaram sold 2,999 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $62.76, for a total transaction of $188,217.24. Following the completion of the transaction, the director now directly owns 36,312 shares of the company’s stock, valued at approximately $2,278,941.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the transaction, the insider now directly owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 2,999 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $62.76, for a total transaction of $188,217.24. Following the completion of the transaction, the director now directly owns 36,312 shares of the company’s stock, valued at $2,278,941.12. The disclosure for this sale can be found here. Insiders sold 426,562 shares of company stock valued at $35,446,258 in the last ninety days. 10.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. BMO Capital Markets increased their price objective on shares of Trade Desk from $88.00 to $107.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. 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 report on Friday, February 16th. BTIG Research increased their price objective on shares of Trade Desk from $91.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Stephens reissued an “overweight” rating and set a $85.00 price objective on shares of Trade Desk in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has an average 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.