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

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the sale, the insider now directly owns 1,342,722 shares in the company, valued at $52,366,158. The trade was a 12.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $38.30, for a total value of $20,379,238.50.
• On Friday, October 25th, Paul Liberman sold 88,441 shares of DraftKings stock. The stock was sold at an average price of $36.41, for a total transaction of $3,220,136.81.

DraftKings Stock Performance

NASDAQ:DKNG opened at $39.49 on Friday. 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 50-day simple moving average of $40.49 and a two-hundred day simple moving average of $37.90. The firm has a market capitalization of $34.78 billion, a PE ratio of -44.87 and a beta of 1.90. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DKNG shares. Barclays increased their target price on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Susquehanna dropped their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday. TD Cowen raised their price target on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their target price on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

Institutional Investors Weigh In On DraftKings

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in shares of DraftKings by 14.6% during the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock worth $9,203,000 after purchasing an additional 29,991 shares in the last quarter. Mizuho Securities USA LLC purchased a new stake in DraftKings during the 3rd quarter valued at approximately $28,028,000. Janney Montgomery Scott LLC raised its position in shares of DraftKings by 51.6% during the third quarter. Janney Montgomery Scott LLC now owns 378,227 shares of the company’s stock valued at $14,826,000 after buying an additional 128,676 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DraftKings by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock worth $124,470,000 after buying an additional 86,336 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of DraftKings by 238.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,971 shares of the company’s stock worth $19,481,000 after acquiring an additional 350,215 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

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.