DraftKings Inc. (NASDAQ:DKNG) Insider Paul Liberman Sells 532,095 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the sale, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This represents a 88.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 Down 1.4 %

Shares of DKNG stock opened at $37.92 on Friday. The stock has a market cap of $33.39 billion, a P/E ratio of -43.09 and a beta of 1.87. 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 fifty day moving average price of $40.29 and a 200 day moving average price of $38.13. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On DraftKings

A number of hedge funds have recently modified their holdings of DKNG. Marshall Wace LLP boosted its stake in DraftKings by 53.3% in the 2nd quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock valued at $359,196,000 after buying an additional 3,269,932 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of DraftKings by 1,261.7% during the second quarter. Jupiter Asset Management Ltd. now owns 1,612,405 shares of the company’s stock valued at $61,545,000 after acquiring an additional 1,493,995 shares during the period. Fred Alger Management LLC boosted its stake in shares of DraftKings by 46.6% in the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after purchasing an additional 1,476,003 shares in the last quarter. Blue Whale Capital LLP bought a new stake in shares of DraftKings in the 2nd quarter worth about $39,306,000. Finally, AQR Capital Management LLC increased its position in shares of DraftKings by 29.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after purchasing an additional 870,789 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DKNG shares. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Barclays boosted their price target on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JMP Securities boosted their target price on DraftKings from $51.00 to $52.00 and gave the stock a “market outperform” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.