Trade Desk Inc. (NASDAQ:TTD) shares are trending on Wednesday night.

Insider Buying Fuels After-Hours Rally

Shares of the California-based multinational technology company rose 9.25% in after-hours trading to $27.50 on Wednesday after a Securities and Exchange Commission filing disclosed that President and CEO Jeffrey Terry Green acquired 6,398,089 Class A common shares between Mar. 2 and Mar. 4.

The acquisition comprised 6,000,000 shares purchased through a limited partnership and 398,089 shares received via a restricted stock award.

Purchases Made Near Multi-Year Lows

The 6,000,000 purchased shares were transacted at weighted average prices of $23.49, $24.16, $24.97 and $25.08, with individual transaction prices ranging from $22.93 to $25.25, according to the filing.

The four transactions totaled approximately $148.1 million.

Awards and Options Also Disclosed

The filing states that the restricted stock award of 398,089 shares, granted on March 3, vests over 16 quarters beginning May 15.

According to the SEC filing, Green also received stock options covering 737,028 Class A shares at an exercise price of $25, expiring Mar. 3, 2036, and vesting monthly over 48 months.

Trading Metrics, Technical Analysis

The Trade Desk, which produces and services programmatic marketing automation with personalized real-time digital content, has a market capitalization of $11.98 billion, with a 52-week high of $91.45 and a 52-week low of $21.08.

The Relative Strength Index (RSI) of TTD stands at 36.33.

Over the past 12 months, the large-cap stock has fallen 62.77%.

Price Action: On Wednesday, TTD closed the regular session at $25.17, up 0.68%, according to Benzinga Pro data.

Currently, the stock is trading at 5.8% above its 52-week low, very close to its yearly low.

Benzinga’s Edge Stock Rankings indicate that TTD stock has a negative price trend across all time frames.

Photo: Sunil Prajapati / Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.