New York State Common Retirement Fund Decreases Stake in Trump Media & Technology Group Corp. (NASDAQ:DJT)

New York State Common Retirement Fund reduced its stake in Trump Media & Technology Group Corp. (NASDAQ:DJT) by 12.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,700 shares of the company’s stock after selling 5,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Trump Media & Technology Group were worth $658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Trump Media & Technology Group by 180.3% during the 4th quarter. Vanguard Group Inc. now owns 9,006,919 shares of the company’s stock worth $307,136,000 after buying an additional 5,793,934 shares during the last quarter. Geode Capital Management LLC raised its position in Trump Media & Technology Group by 35.2% during the 4th quarter. Geode Capital Management LLC now owns 1,484,255 shares of the company’s stock worth $50,630,000 after buying an additional 386,227 shares during the last quarter. Melqart Asset Management UK Ltd purchased a new position in Trump Media & Technology Group during the 4th quarter worth approximately $18,725,000. Invesco Ltd. raised its position in Trump Media & Technology Group by 785.1% during the 4th quarter. Invesco Ltd. now owns 512,613 shares of the company’s stock worth $17,480,000 after buying an additional 454,699 shares during the last quarter. Finally, Northern Trust Corp raised its position in Trump Media & Technology Group by 50.0% during the 4th quarter. Northern Trust Corp now owns 417,243 shares of the company’s stock worth $14,228,000 after buying an additional 139,145 shares during the last quarter. 4.29% of the stock is owned by hedge funds and other institutional investors.

Trump Media & Technology Group Trading Up 0.2%

Shares of DJT opened at $19.15 on Friday. Trump Media & Technology Group Corp. has a 52-week low of $11.75 and a 52-week high of $54.68. The company has a quick ratio of 38.41, a current ratio of 38.41 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $20.06 and its two-hundred day moving average is $23.86. The stock has a market cap of $4.22 billion, a PE ratio of -37.55 and a beta of 4.71.

Trump Media & Technology Group (NASDAQ:DJT) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $821.20 million for the quarter. Trump Media & Technology Group had a negative net margin of 2,860.82% and a negative return on equity of 14.17%.

Trump Media & Technology Group announced that its Board of Directors has initiated a share buyback program on Monday, June 23rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 10.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Trump Media & Technology Group from a “hold” rating to a “sell” rating in a report on Friday, June 6th.

Insider Activity

In related news, General Counsel Scott Glabe sold 57,995 shares of the 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 completion of the transaction, the general counsel owned 239,503 shares of the company’s stock, valued at approximately $6,332,459.32. This trade represents a 19.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Phillip Juhan sold 45,005 shares of Trump Media & Technology Group stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $27.15, for a total transaction of $1,221,885.75. Following the completion of the sale, the chief financial officer owned 175,572 shares of the company’s stock, valued at $4,766,779.80. This trade represents a 20.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,806 shares of company stock worth $5,062,725. Insiders own 53.00% 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.