Trump Media & Technology Group (NASDAQ:DJT) Cut to "Sell" at Wall Street Zen

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Trump Media & Technology Group Price Performance

Shares of NASDAQ:DJT traded up $0.78 during trading hours on Friday, hitting $20.90. The stock had a trading volume of 7,035,459 shares, compared to its average volume of 16,300,550. The stock's fifty day simple moving average is $22.61 and its 200 day simple moving average is $27.57. Trump Media & Technology Group has a 1-year low of $11.75 and a 1-year high of $54.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 45.33 and a quick ratio of 47.49.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.14) EPS for the quarter. Trump Media & Technology Group had a negative net margin of 11,076.68% and a negative return on equity of 70.26%. The firm had revenue of $821.20 million during the quarter.

Insider Activity at Trump Media & Technology Group

In related news, CEO Devin G. Nunes sold 59,483 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $26.46, for a total transaction of $1,573,920.18. Following the transaction, the chief executive officer now owns 1,148,705 shares in the company, valued at $30,394,734.30. This trade represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Scott Glabe sold 57,995 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $26.44, for a total transaction of $1,533,387.80. Following the transaction, the general counsel now owns 239,503 shares in the company, valued at $6,332,459.32. This represents a 19.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,365 shares of company stock worth $5,410,300 over the last quarter. 53.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Trump Media & Technology Group by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,918 shares of the company's stock worth $134,000 after buying an additional 361 shares in the last quarter. Allworth Financial LP boosted its holdings in Trump Media & Technology Group by 13.6% during the fourth quarter. Allworth Financial LP now owns 3,385 shares of the company's stock worth $114,000 after buying an additional 406 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Trump Media & Technology Group by 21.6% during the first quarter. Golden State Wealth Management LLC now owns 2,308 shares of the company's stock worth $45,000 after buying an additional 410 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Trump Media & Technology Group by 30.3% during the fourth quarter. Harbour Investments Inc. now owns 1,909 shares of the company's stock worth $65,000 after buying an additional 444 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Trump Media & Technology Group by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 41,031 shares of the company's stock worth $802,000 after buying an additional 530 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company's stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.

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