Trump Media & Technology Group (NASDAQ:DJT) Stock Price Up 15.2% – Still a Buy?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shot up 15.2% on Tuesday . The stock traded as high as $40.74 and last traded at $39.56. 59,137,355 shares were traded during trading, an increase of 335% from the average session volume of 13,584,226 shares. The stock had previously closed at $34.34.

Trump Media & Technology Group Stock Down 23.0 %

The company has a fifty day moving average of $23.68 and a 200 day moving average of $32.01.

Trump Media & Technology Group (NASDAQ:DJT) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.10) EPS for the quarter. The firm had revenue of $0.84 million for the quarter.

Insider Transactions at Trump Media & Technology Group

In related news, General Counsel Scott Glabe sold 4,083 shares of the stock in a transaction dated 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 sale, the general counsel now owns 15,917 shares in the company, valued at approximately $361,315.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 value of $92,684.10. Following the completion of the sale, the general counsel now directly owns 15,917 shares in the company, valued at $361,315.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vladimir Novachki sold 7,801 shares of the company’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 value of $177,082.70. Following the transaction, the chief technology officer now directly owns 37,199 shares in the company, valued at approximately $844,417.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,138 shares of company stock valued at $2,908,733 over the last quarter. 14.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trump Media & Technology Group

Hedge funds have recently made changes to their positions in the company. Greenwich Wealth Management LLC purchased a new stake in shares of Trump Media & Technology Group during the third quarter valued at about $10,946,000. Sapient Capital LLC acquired a new stake in shares of Trump Media & Technology Group in the 3rd quarter worth $2,339,000. Busey Bank purchased a new position in Trump Media & Technology Group during the 3rd quarter worth $727,000. Creative Planning acquired a new position in Trump Media & Technology Group during the 3rd quarter valued at about $538,000. Finally, Vontobel Holding Ltd. purchased a new stake in Trump Media & Technology Group in the third quarter valued at about $386,000. 4.29% of the stock is currently owned by hedge funds and other 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.