DraftKings Inc. (NASDAQ:DKNG) Insider Paul Liberman Sells 643,654 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now owns 682,764 shares of the company’s stock, valued at $26,593,657.80. This represents a 48.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Price Performance

Shares of NASDAQ:DKNG opened at $35.29 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market capitalization of $17.29 billion, a P/E ratio of -33.29, a P/E/G ratio of 1.43 and a beta of 2.07. The business has a 50-day moving average of $42.01 and a two-hundred day moving average of $40.32. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of DraftKings by 14.6% in 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 during the period. Vestmark Advisory Solutions Inc. grew its holdings in DraftKings by 27.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock valued at $4,766,000 after buying an additional 26,164 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in DraftKings by 2.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,480,549 shares of the company’s stock worth $58,038,000 after buying an additional 35,466 shares during the period. Stifel Financial Corp lifted its holdings in shares of DraftKings by 27.7% during the third quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock worth $7,669,000 after buying an additional 42,431 shares during the last quarter. Finally, FMR LLC boosted its position in shares of DraftKings by 14.7% in the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock valued at $253,509,000 after acquiring an additional 826,626 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price objective on DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Susquehanna reduced their price target on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.