Trump Media & Technology Group (NASDAQ:DJT) Shares Down 9.5% After Insider Selling

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares dropped 9.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $30.11 and last traded at $30.25. Approximately 14,119,774 shares were traded during trading, a decline of 10% from the average daily volume of 15,732,683 shares. The stock had previously closed at $33.41.

Specifically, Director Eric Swider sold 136,183 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $28.23, for a total value of $3,844,446.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Phillip Juhan sold 64,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 265,798 shares in the company, valued at approximately $8,763,360.06. The trade was a 19.41 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Phillip Juhan sold 320,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.65, for a total transaction of $9,808,000.00. Following the completion of the transaction, the chief financial officer now directly owns 329,798 shares of the company’s stock, valued at $10,108,308.70. The trade was a 49.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Trump Media & Technology Group Stock Performance

The stock has a 50 day simple moving average of $24.85 and a two-hundred day simple moving average of $31.79. The company has a quick ratio of 47.49, a current ratio of 47.49 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Trump Media & Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. purchased a new position in Trump Media & Technology Group in the third quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $30,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at $34,000. MetLife Investment Management LLC acquired a new stake in shares of Trump Media & Technology Group in the 3rd quarter valued at about $43,000. Finally, Allworth Financial LP purchased a new position in shares of Trump Media & Technology Group during the third quarter worth approximately $48,000. Hedge funds and other institutional investors 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.