DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total transaction of $25,070,323.30. Following the completion of the transaction, the insider now directly owns 682,764 shares in the company, valued at approximately $26,593,657.80. This represents a 48.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Paul Liberman also recently made the following trade(s):
- On Friday, January 10th, Paul Liberman sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00.
DraftKings Trading Down 1.7 %
NASDAQ DKNG opened at $37.04 on Friday. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a market capitalization of $18.15 billion, a PE ratio of -34.94, a P/E/G ratio of 1.43 and a beta of 2.07. The stock has a 50-day simple moving average of $42.09 and a 200 day simple moving average of $40.33.
DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Research analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.
Institutional Trading of DraftKings
Large investors have recently made changes to their positions in the company. Raiffeisen Bank International AG acquired a new position in DraftKings in the fourth quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new position in shares of DraftKings during the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of DraftKings in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new stake in DraftKings during the 4th quarter worth approximately $30,000. Finally, Synergy Investment Management LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $37,000. Institutional investors own 37.70% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on DKNG shares. Canaccord Genuity Group raised their price target on DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Argus set a $60.00 target price on DraftKings in a report on Tuesday, February 18th. Stifel Nicolaus upped their price target on DraftKings from $48.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Cowen reissued a "buy" rating on shares of DraftKings in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on shares of DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.44.
View Our Latest Report on DraftKings
About DraftKings
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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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