Insider Selling: DraftKings Inc. (NASDAQ:DKNG) Insider Sells 88,441 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 88,441 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the transaction, the insider now directly owns 1,923,483 shares in the company, valued at $70,034,016.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, September 25th, Paul Liberman sold 643,654 shares of DraftKings stock. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96.
• On Monday, August 26th, Paul Liberman sold 88,441 shares of DraftKings stock. The stock was sold at an average price of $35.64, for a total transaction of $3,152,037.24.

DraftKings Stock Performance

NASDAQ:DKNG traded down $0.31 during mid-day trading on Friday, hitting $36.47. The stock had a trading volume of 8,744,120 shares, compared to its average volume of 10,305,675. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of -31.24 and a beta of 1.81. The company has a 50 day simple moving average of $37.20 and a 200-day simple moving average of $38.45. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. DraftKings’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. On average, research analysts expect that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $48.00 price target on shares of DraftKings in a research note on Wednesday, October 16th. Mizuho increased their price target on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. UBS Group increased their price target on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of DraftKings from $48.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Truist Financial reissued a “buy” rating and issued a $50.00 price objective on shares of DraftKings in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.22.

Hedge Funds Weigh In On DraftKings

Several large investors have recently bought and sold shares of the stock. Winthrop Advisory Group LLC grew its stake in shares of DraftKings by 2.4% in the 1st quarter. Winthrop Advisory Group LLC now owns 10,452 shares of the company’s stock worth $475,000 after purchasing an additional 244 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of DraftKings by 0.6% in the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after purchasing an additional 273 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of DraftKings by 21.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock worth $63,000 after purchasing an additional 286 shares during the last quarter. Sfmg LLC grew its stake in shares of DraftKings by 3.9% in the 1st quarter. Sfmg LLC now owns 8,140 shares of the company’s stock worth $370,000 after purchasing an additional 306 shares during the last quarter. Finally, Brown Lisle Cummings Inc. grew its stake in shares of DraftKings by 32.5% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

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.