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Trade Desk (TTD) Soars 20% after CEO’s Huge $148M Insider Purchase
Jeffrey Terry Green, CEO of The Trade Desk TTD +17.84% ▲ , significantly raised his stake in the company by buying over 6 million Class A shares between March 2 and March 4, for about $148.10 million. Following the news, TTD stock surged over 20% on Thursday as large scale insider buying is often seen by investors as a bullish signal for the company’s long-term prospects.
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The rally was further fueled by reports that OpenAI is in early discussions with The Trade Desk about potential advertising partnerships. This move could expand TTD’s role in AI-driven ad markets.
Major Insider Bet at Multi-Year Lows
According to the SEC filing, Green acquired 6 million shares through a limited partnership at weighted average prices ranging from $23.49 to $25.08, with individual trades as low as $22.93.
Importantly, TTD shares have been trading near multi-year lows after falling more than 60% over the past year. Investors viewed this purchase as a major show of confidence by the CEO in the company’s valuation.
He also received 398,089 shares through a restricted stock award and 737,028 stock options with a $25 strike price, vesting over four years.
Is TTD a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TTD stock based on 16 Buys, 14 Holds, and two Sells assigned in the last three months. Further, the average Trade Desk price target of $35.59 per share implies 21.27% upside potential.
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