Insider Selling: DraftKings Inc. (NASDAQ:DKNG) Insider Sells $26,544,290.96 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total value of $26,544,290.96. Following the completion of the transaction, the insider now owns 137,308 shares in the company, valued at $5,662,581.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, August 26th, Paul Liberman sold 88,441 shares of DraftKings stock. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24.
• On Monday, July 15th, Paul Liberman sold 63,206 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total value of $2,465,034.00.

DraftKings Stock Down 1.4 %

DKNG stock opened at $40.36 on Monday. The company has a market cap of $35.08 billion, a price-to-earnings ratio of -34.20 and a beta of 1.80. The company has a 50 day moving average of $35.62 and a two-hundred day moving average of $39.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. DraftKings Inc. has a 12-month low of $25.73 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. DraftKings’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. On average, equities analysts anticipate that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company cut their price objective on DraftKings from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. UBS Group raised their price objective on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Barclays lowered their price objective on DraftKings from $53.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Guggenheim decreased their target price on DraftKings from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, Benchmark lifted their target price on DraftKings from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Winthrop Advisory Group LLC raised its holdings in shares of DraftKings by 2.4% during the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock valued at $475,000 after purchasing an additional 244 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in DraftKings by 26.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 1,200 shares of the company’s stock worth $54,000 after acquiring an additional 250 shares during the period. Hexagon Capital Partners LLC raised its holdings in DraftKings by 21.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after acquiring an additional 286 shares during the period. Sfmg LLC raised its holdings in DraftKings by 3.9% in the 1st quarter. Sfmg LLC now owns 8,140 shares of the company’s stock worth $370,000 after acquiring an additional 306 shares during the period. Finally, Brown Lisle Cummings Inc. raised its holdings in DraftKings by 32.5% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after acquiring an additional 325 shares during the period. 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.