Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Down – Time to Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares gapped down prior to trading on Friday . The stock had previously closed at $35.41, but opened at $34.11. Trump Media & Technology Group shares last traded at $33.34, with a volume of 1,588,161 shares trading hands.

Trump Media & Technology Group Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 47.49 and a current ratio of 47.49. The company has a 50 day moving average price of $33.37 and a 200 day moving average price of $29.02.

Insiders Place Their Bets

In other news, General Counsel Scott Glabe sold 15,917 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.19, for a total transaction of $512,368.23. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Phillip Juhan sold 64,000 shares of Trump Media & Technology Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $32.97, for a total value of $2,110,080.00. Following the sale, the chief financial officer now directly owns 265,798 shares of the company’s stock, valued at approximately $8,763,360.06. The trade was a 19.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,100 shares of company stock valued at $16,274,894 over the last ninety days. 14.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trump Media & Technology Group

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

About Trump Media & Technology Group

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.