Trump Media & Technology Group (NASDAQ:DJT) Trading Down 7.2% - Time to Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report)'s share price dropped 7.2% during mid-day trading on Tuesday . The stock traded as low as $29.10 and last traded at $30.43. Approximately 10,478,415 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 15,968,917 shares. The stock had previously closed at $32.78.

Trump Media & Technology Group Stock Down 9.0 %

The business's 50 day moving average price is $25.56 and its 200-day moving average price is $31.29. The company has a quick ratio of 47.49, a current ratio of 47.49 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In related news, CFO Phillip Juhan sold 84,941 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $1,928,160.70. Following the completion of the sale, the chief financial officer now owns 405,059 shares in the company, valued at $9,194,839.30. This trade represents a 17.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Scott Glabe sold 15,917 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $32.19, for a total transaction of $512,368.23. Following the completion of the transaction, the general counsel now owns 336,576 shares in the company, valued at approximately $10,834,381.44. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 664,238 shares of company stock worth $19,183,627 over the last quarter. Company insiders own 14.80% of the company's stock.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of DJT. Rakuten Securities Inc. acquired a new position in Trump Media & Technology Group during the 3rd quarter worth about $27,000. Larson Financial Group LLC acquired a new position in shares of Trump Media & Technology Group during the third quarter worth approximately $30,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Trump Media & Technology Group during the third quarter valued at approximately $34,000. MetLife Investment Management LLC acquired a new stake in shares of Trump Media & Technology Group in the third quarter valued at approximately $43,000. Finally, Allworth Financial LP bought a new position in Trump Media & Technology Group in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 4.29% of the company's stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. develops a social media platform known as Truth Social that offers social networking services in the United States. The company was founded in 2021 and is based in Sarasota, Florida.

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