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

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now directly owns 682,764 shares of the company’s stock, valued at approximately $26,593,657.80. This represents a 48.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Stock Down 1.7 %

NASDAQ:DKNG traded down $0.64 on Thursday, hitting $37.04. The stock had a trading volume of 6,960,042 shares, compared to its average volume of 9,480,452. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The firm’s fifty day simple moving average is $42.09 and its two-hundred day simple moving average is $40.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a market cap of $18.15 billion, a P/E ratio of -34.94, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last issued 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%. Analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On DraftKings

Several large investors have recently made changes to their positions in DKNG. Raiffeisen Bank International AG purchased a new position in shares of DraftKings in the 4th quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in DraftKings in the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in DraftKings in the fourth quarter valued at about $28,000. Synergy Asset Management LLC purchased a new position in DraftKings in the fourth quarter valued at about $30,000. Finally, Synergy Investment Management LLC bought a new position in shares of DraftKings during the 4th quarter valued at approximately $37,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. TD Cowen dropped their target price on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Needham & Company LLC set a $65.00 price objective on DraftKings in a research report on Tuesday, February 18th. Finally, Susquehanna cut their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.44.

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.