DraftKings Inc. (NASDAQ:DKNG) Insider Paul Liberman Sells 532,095 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $36.41, for a total value of $3,220,136.81.

DraftKings Stock Performance

NASDAQ:DKNG traded down $0.54 during mid-day trading on Friday, hitting $37.92. The company’s stock had a trading volume of 4,364,455 shares, compared to its average volume of 10,075,147. The business’s fifty day moving average is $40.29 and its two-hundred day moving average is $38.13. The stock has a market cap of $33.39 billion, a price-to-earnings ratio of -43.09 and a beta of 1.87. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last posted its 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 return on equity of 41.23% and a negative net margin of 9.06%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Susquehanna boosted their price target on shares of DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a report on Monday, October 7th. TD Cowen increased their price objective on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley upped their target price on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of DraftKings in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DKNG. Marshall Wace LLP increased its stake in shares of DraftKings by 53.3% in the 2nd quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock valued at $359,196,000 after purchasing an additional 3,269,932 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of DraftKings by 1,261.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock worth $61,545,000 after buying an additional 1,493,995 shares during the period. Fred Alger Management LLC lifted its position in shares of DraftKings by 46.6% during the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after buying an additional 1,476,003 shares in the last quarter. Blue Whale Capital LLP acquired a new stake in DraftKings in the 2nd quarter valued at $39,306,000. Finally, AQR Capital Management LLC increased its holdings in DraftKings by 29.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after acquiring an additional 870,789 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

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.