DraftKings Inc. (NASDAQ:DKNG) Insider Sells $25,070,323.30 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total value of $25,070,323.30. Following the sale, the insider now owns 682,764 shares of the company’s stock, valued at approximately $26,593,657.80. The trade was a 48.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 10th, Paul Liberman sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00.

DraftKings Stock Down 4.7 %

DKNG stock opened at $35.29 on Friday. The stock has a market cap of $17.64 billion, a P/E ratio of -33.29, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $42.01 and its two-hundred day simple moving average is $40.35. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital bought a new stake in shares of DraftKings in the 4th quarter worth approximately $438,000. Thoma Capital Management LLC bought a new stake in shares of DraftKings in the fourth quarter valued at $902,000. Siemens Fonds Invest GmbH bought a new stake in shares of DraftKings in the fourth quarter valued at $665,000. Total Wealth Planning & Management Inc. bought a new position in shares of DraftKings during the 4th quarter worth $243,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in DraftKings in the 4th quarter worth about $1,728,000. 37.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DKNG has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their target price on shares of DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price target on shares of DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Needham & Company LLC set a $65.00 price objective on shares of DraftKings in a research report on Tuesday, February 18th. Finally, BTIG Research set a $59.00 target price on DraftKings in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.42.

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.