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

DraftKings Inc. (NASDAQ:DKNG) insider Paul Liberman sold 643,654 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 transaction of $7,800,000.00.

DraftKings Stock Performance

DraftKings stock opened at $35.29 on Friday. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average of $42.01 and a 200-day moving average of $40.32. The stock has a market cap of $17.29 billion, a P/E ratio of -33.29, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data 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, analysts expect that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently bought and sold shares of the company. 111 Capital bought a new stake in shares of DraftKings in the 4th quarter valued at approximately $438,000. Thoma Capital Management LLC acquired a new position in DraftKings in the fourth quarter worth $902,000. Siemens Fonds Invest GmbH bought a new stake in DraftKings during the fourth quarter valued at $665,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of DraftKings during the fourth quarter worth $243,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of DraftKings in the 4th quarter worth about $1,728,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DKNG shares. Argus set a $60.00 price objective on shares of DraftKings in a research note on Tuesday, February 18th. Canaccord Genuity Group boosted their price target on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC set a $65.00 price objective on DraftKings in a report on Tuesday, February 18th. TD Cowen decreased their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Stifel Nicolaus increased their target price 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. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average price target 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.