Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Up – Still a Buy?

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) gapped up before the market opened on Tuesday . The stock had previously closed at $31.30, but opened at $32.08. Trump Media & Technology Group shares last traded at $32.93, with a volume of 15,940,885 shares.

Trump Media & Technology Group Trading Up 7.7 %

The firm has a fifty day moving average price of $20.03 and a 200 day moving average price of $31.58.

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 business had revenue of $0.84 million during the quarter.

Insider Buying and Selling

In other Trump Media & Technology Group news, CEO Devin G. Nunes sold 27,846 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 $632,104.20. Following the sale, the chief executive officer now owns 87,154 shares of the company’s stock, valued at approximately $1,978,395.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Phillip Juhan sold 84,941 shares of Trump Media & Technology Group stock in a transaction dated Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $9,194,839.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Devin G. Nunes sold 27,846 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 $632,104.20. Following the completion of the sale, the chief executive officer now owns 87,154 shares in the company, valued at approximately $1,978,395.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,138 shares of company stock worth $2,908,733 in the last three months. Corporate insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Trump Media & Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DJT. Sapient Capital LLC acquired a new position in shares of Trump Media & Technology Group in the 3rd quarter valued at about $2,339,000. Avondale Wealth Management acquired a new position in Trump Media & Technology Group in the third quarter valued at approximately $64,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Trump Media & Technology Group in the third quarter valued at approximately $34,000. Private Advisor Group LLC purchased a new stake in Trump Media & Technology Group in the 3rd quarter worth approximately $263,000. Finally, Creative Planning acquired a new stake in shares of Trump Media & Technology Group during the 3rd quarter worth approximately $538,000. 4.29% of the stock is owned by institutional investors and hedge funds.

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.