Jack Dorsey Buys $7 Million In Twitter Stock, Price Rises

Shares of Twitter Inc. edged higher in the extended session Tuesday after Chief Executive Jack Dorsey bought a large chunk of shares. Twitter shares advanced 1.4% to $16.74 after hours, following a gain of 4.5% during the regular session, which put shares at a 1.4% gain year to date. In a filing with the Securities and Exchange Commission late Tuesday, Dorsey disclosed he had purchased 425,998 shares of Twitter at prices ranging from $15.84 to $16.60 a share beginning on Monday. Prior to the filing, Dorsey owned just over 15 million shares, or a 2.1% stake of outstanding shares, according to FactSet data.