Trade Desk Shares Rally 21.6% After CEO’s $148M Buy and OpenAI Talks
The Trade Desk shares jumped 21.6% premarket after reports that OpenAI may partner with external ad sellers to scale ChatGPT advertising. CEO Jeffrey Terry Green acquired 6.4 million Class A shares at $22.93–25.25 per share, investing about $148.1 million while the stock traded near multi-year lows.
1. Stock Surge
Trade Desk shares climbed 21.6% in premarket trading as investors responded to news that OpenAI may rely on external partners to sell ads on ChatGPT, following last month’s ad rollout.
2. Major Insider Purchase
CEO Jeffrey Terry Green purchased 6,398,089 Class A shares between March 2 and March 4 at weighted-average prices of $23.49 to $25.08 (trade range $22.93–25.25), totaling approximately $148.1 million while the stock traded near multi-year lows.
3. Analyst Updates
KeyBanc maintained an Overweight rating but lowered its price target from $40 to $35, and Piper Sandler kept a Neutral rating while cutting its target from $50 to $28, reflecting ongoing volatility in the ad-tech sector.
4. Business Overview
The Trade Desk operates a programmatic advertising platform used by brands and agencies worldwide to purchase digital ad inventory across channels, positioning it to benefit if an OpenAI ad sales partnership materializes.