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

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now owns 1,342,722 shares of the company’s stock, valued at $52,366,158. This represents a 12.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 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 Stock Up 3.0 %

Shares of DraftKings stock opened at $39.49 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $34.78 billion, a price-to-earnings ratio of -44.87 and a beta of 1.90. The firm’s 50-day moving average is $40.49 and its two-hundred day moving average is $37.90. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, research analysts expect that DraftKings Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DraftKings

Several institutional investors and hedge funds have recently added to or reduced their stakes in DKNG. Candriam S.C.A. purchased a new stake in shares of DraftKings during the second quarter worth about $757,000. Acadian Asset Management LLC increased its stake in DraftKings by 1,026.9% during the 2nd quarter. Acadian Asset Management LLC now owns 25,366 shares of the company’s stock worth $967,000 after buying an additional 23,115 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of DraftKings by 10.7% during the second quarter. Ballentine Partners LLC now owns 6,554 shares of the company’s stock valued at $250,000 after acquiring an additional 632 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of DraftKings in the second quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of DraftKings by 2.9% in the second quarter. Daiwa Securities Group Inc. now owns 36,986 shares of the company’s stock worth $1,412,000 after acquiring an additional 1,026 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DKNG. Macquarie increased their price target on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Susquehanna dropped their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday. JMP Securities decreased their price target on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of DraftKings in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average price target of $51.08.

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.