DraftKings Inc. (NASDAQ:DKNG) Insider Paul Liberman Sells 200,000 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 200,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now directly owns 1,342,722 shares of the company’s stock, valued at $52,366,158. This trade represents a 12.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, December 26th, Paul Liberman sold 532,095 shares of DraftKings stock. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50.
• 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 transaction of $3,220,136.81.

DraftKings Price Performance

Shares of DKNG opened at $39.49 on Friday. The firm has a market cap of $34.78 billion, a PE ratio of -44.87 and a beta of 1.90. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The business’s 50 day moving average price is $40.49 and its two-hundred day moving average price is $37.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00.

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

Institutional Trading of DraftKings

Large investors have recently made changes to their positions in the company. Alta Advisers Ltd bought a new position in DraftKings in the second quarter worth approximately $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of DraftKings during the second quarter worth approximately $39,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the 3rd quarter worth $43,000. V Square Quantitative Management LLC acquired a new stake in DraftKings in the 3rd quarter valued at $46,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in DraftKings during the 2nd quarter valued at $47,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DKNG shares. JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Mizuho upped their price target on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Barclays boosted their price objective on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $48.00 target price on shares of DraftKings in a research report on Wednesday, October 16th. Finally, Benchmark restated a “buy” rating and set a $44.00 price target on shares of DraftKings in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and a consensus target price of $51.08.

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.