DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total value of $6,144,000.00. Following the transaction, the insider now owns 2,699,815 shares of the company’s stock, valued at $82,938,316.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Jason Robins also recently made the following trade(s):
- On Tuesday, May 21st, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $43.59, for a total transaction of $8,718,000.00.
DraftKings Stock Performance
NASDAQ:DKNG opened at $30.34 on Monday. DraftKings Inc. has a twelve month low of $25.41 and a twelve month high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock’s 50-day simple moving average is $37.14 and its 200 day simple moving average is $40.78. The firm has a market capitalization of $26.37 billion, a PE ratio of -25.71 and a beta of 1.81.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Macquarie cut their target price on shares of DraftKings from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Bank of America reduced their price objective on DraftKings from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Benchmark lowered their target price on DraftKings from $52.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. UBS Group upped their price objective on DraftKings from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Truist Financial dropped their target price on DraftKings from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $49.56.
Read Our Latest Analysis on DraftKings
Institutional Trading of DraftKings
A number of hedge funds and other institutional investors have recently modified their holdings of DKNG. LRI Investments LLC acquired a new stake in shares of DraftKings during the 1st quarter valued at $31,000. LifeSteps Financial Inc. acquired a new stake in shares of DraftKings during the first quarter valued at about $33,000. Transcendent Capital Group LLC bought a new stake in shares of DraftKings during the fourth quarter worth about $26,000. Concord Wealth Partners grew its holdings in shares of DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after purchasing an additional 453 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position in shares of DraftKings in the fourth quarter valued at approximately $29,000. Institutional investors own 37.70% of the company’s stock.
About DraftKings
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.
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