DraftKings Inc. (NASDAQ:DKNG) Insider Sells $7,800,000.00 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the completion of the transaction, the insider now directly owns 1,342,722 shares of the company’s stock, valued at approximately $52,366,158. This represents a 12.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50.
• 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 transaction of $3,220,136.81.

DraftKings Trading Up 3.0 %

Shares of NASDAQ:DKNG opened at $39.49 on Monday. 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 stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of -44.87 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 50 day moving average price of $40.49 and a 200 day moving average price of $37.90.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research note on Tuesday, January 7th. JMP Securities dropped their target price on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Susquehanna cut their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target 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. Finally, Mizuho boosted their target price on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Institutional Trading of DraftKings

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

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.