Trump Media & Technology Group (NASDAQ:DJT) Trading 3.8% Higher – Time to Buy?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares shot up 3.8% during mid-day trading on Friday . The stock traded as high as $28.72 and last traded at $28.01. 8,443,376 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 15,829,123 shares. The stock had previously closed at $26.99.

Trump Media & Technology Group Stock Up 4.0 %

The stock’s fifty day simple moving average is $25.04 and its 200 day simple moving average is $31.76. The company has a quick ratio of 47.49, a current ratio of 47.49 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other Trump Media & Technology Group news, CTO Vladimir Novachki sold 7,801 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total transaction of $177,082.70. Following the sale, the chief technology officer now owns 37,199 shares of the company’s stock, valued at approximately $844,417.30. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Scott Glabe sold 4,083 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total transaction of $92,684.10. Following the completion of the transaction, the general counsel now directly owns 15,917 shares of the company’s stock, valued at approximately $361,315.90. This represents a 20.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 664,238 shares of company stock worth $19,183,627 in the last 90 days. 14.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trump Media & Technology Group

A number of institutional investors and hedge funds have recently modified their holdings of DJT. Greenwich Wealth Management LLC acquired a new stake in Trump Media & Technology Group during the 3rd quarter worth about $10,946,000. Charles Schwab Investment Management Inc. purchased a new position in Trump Media & Technology Group during the third quarter valued at approximately $9,564,000. Sapient Capital LLC purchased a new stake in Trump Media & Technology Group in the 3rd quarter worth approximately $2,339,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Trump Media & Technology Group during the 3rd quarter worth approximately $1,571,000. Finally, Busey Bank purchased a new position in shares of Trump Media & Technology Group during the 3rd quarter valued at approximately $727,000. Institutional investors and hedge funds own 4.29% of the company’s stock.

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.