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

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 88,441 shares of the business’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 value of $3,220,136.81. Following the transaction, the insider now directly owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, September 25th, Paul Liberman sold 643,654 shares of DraftKings stock. The stock was sold at an average price of $41.24, for a total value 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 opened at $36.47 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $31.70 billion, a PE ratio of -30.91 and a beta of 1.81. The firm has a 50 day simple moving average of $37.24 and a 200-day simple moving average of $38.39. DraftKings Inc. has a 1-year low of $25.73 and a 1-year high of $49.57.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DKNG. LRI Investments LLC acquired a new stake in shares of DraftKings in the first quarter worth $31,000. Concord Wealth Partners grew its stake in DraftKings by 140.2% in the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after purchasing an additional 453 shares in the last quarter. Alta Advisers Ltd bought a new stake in DraftKings in the second quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new stake in DraftKings during the second quarter valued at approximately $39,000. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of DraftKings during the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DKNG shares. Truist Financial restated a “buy” rating and issued a $50.00 target price on shares of DraftKings in a research note on Wednesday, August 14th. Macquarie reissued an “outperform” rating and issued a $50.00 price target on shares of DraftKings in a report on Monday, August 26th. UBS Group upped their price target on shares of DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. BNP Paribas upgraded DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a report on Tuesday, September 10th. Finally, Bank of America decreased their price target on shares of DraftKings from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.22.

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.