DraftKings Inc. (NASDAQ:DKNG) Insider Sells $20,379,238.50 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Paul Liberman also recently made the following trade(s):

• On Friday, October 25th, Paul Liberman sold 88,441 shares of DraftKings stock. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81.

DraftKings Trading Down 1.4 %

NASDAQ:DKNG opened at $37.92 on Friday. The firm has a 50-day simple moving average of $40.29 and a 200-day simple moving average of $38.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $33.39 billion, a P/E ratio of -43.09 and a beta of 1.87. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on DKNG shares. Mizuho upped their target price on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. UBS Group raised their price target on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Morgan Stanley boosted their price objective on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $48.00 target price on shares of DraftKings in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Institutional Investors Weigh In On DraftKings

Several institutional investors have recently bought and sold shares of DKNG. Principal Financial Group Inc. lifted its holdings in shares of DraftKings by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after purchasing an additional 29,991 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in DraftKings in the third quarter valued at about $1,191,000. Wilmington Savings Fund Society FSB acquired a new stake in DraftKings in the third quarter worth about $304,000. Pine Valley Investments Ltd Liability Co grew its stake in shares of DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after acquiring an additional 249 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of DraftKings by 11.9% during the third quarter. Anchor Investment Management LLC now owns 9,422 shares of the company’s stock valued at $369,000 after acquiring an additional 1,000 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.