DraftKings Inc. (NASDAQ: DKNG) Insider Sells $ 14,693,362.72 in Shares
DraftKings Inc. (NASDAQ: DKNG) insider Jason Robins sold 333,334 shares of the company in a trade dated Friday, July 16. The shares were sold for an average price of $ 44.08, for a total value of $ 14,693,362.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Jason Robins also recently completed the following transactions:
- On Friday, May 14, Jason Robins sold 333,333 shares of DraftKings. The shares were sold for an average price of $ 44.08, for a total value of $ 14,693,318.64.
DKNG shares traded down $ 1.04 during trading hours on Friday, reaching $ 43.79. 12,010,015 shares of the company were traded, for an average volume of 16,158,761. The company has a market capitalization of $ 17.56 billion, a P / E ratio of -14.17 and a beta of 1. 94. The company’s 50-day simple moving average is $ 49.06. DraftKings Inc. has a one-year low at $ 30.51 and a one-year high at $ 74.38. The company has a debt ratio of 0.54, a quick ratio of 5.03 and a current ratio of 5.03.
DraftKings (NASDAQ: DKNG) last released its quarterly earnings data on Friday, May 7. The company reported ($ 0.87) earnings per share for the quarter, missing the consensus estimate of ($ 0.51) from ($ 0.36). DraftKings had a negative net margin of 133.84% and a negative return on equity of 49.11%. The company posted revenue of $ 312.28 million in the quarter, compared to analysts’ expectations of $ 228.34 million. Analysts on the seller’s side expect DraftKings Inc. to post -2.82 EPS for the current fiscal year.
DKNG has been the subject of a number of research analyst reports. The Goldman Sachs group increased its price target on DraftKings from $ 79.00 to $ 87.00 and gave the company a “buy” rating in a research report published on Tuesday, March 23. Needham & Company LLC reduced its target price on DraftKings from $ 81.00 to $ 73.00 and established a “buy” rating for the company in a research report released on Monday, May 10. Argus reduced its target price on DraftKings from $ 78.00 to $ 60.00 and set a “buy” rating for the company in a research report on Monday, May 24. Morgan Stanley reduced its target price on DraftKings from $ 63.00 to $ 58.00 and set an “overweight” rating for the company in a research report published on Wednesday, June 2. Finally, Guggenheim began covering DraftKings in a research report on Friday, April 30. They issued a “buy” note and a target price of $ 75 for the company. Seven research analysts rated the stock with a conservation rating and twenty gave the stock a buy rating. The company currently has a consensus rating of “Buy” and a consensus price target of $ 68.20.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Global Wealth Management Investment Advisory Inc. increased its stake in DraftKings by 42.1% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 675 shares of the company valued at $ 31,000 after purchasing an additional 200 shares last quarter. HM Payson & Co. increased its stake in DraftKings by 26.1% in the 4th quarter. HM Payson & Co. now owns 965 shares of the company valued at $ 45,000 after purchasing an additional 200 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in DraftKings by 4.7% in the 1st quarter. Crestwood Advisors Group LLC now owns 4,500 shares of the company valued at $ 276,000 after purchasing an additional 200 shares last quarter. Jacobi Capital Management LLC increased its stake in DraftKings by 7.2% in the 1st quarter. Jacobi Capital Management LLC now owns 3,420 shares of the company valued at $ 210,000 after purchasing an additional 230 shares in the last quarter. Finally, Abundance Wealth Counselors purchased a new position in DraftKings in Q1 for a value of approximately $ 95,000. 53.97% of the shares are held by hedge funds and other institutional investors.
DraftKings Company Profile
DraftKings Inc is a digital sports entertainment and games company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily sports, sports betting and iGaming opportunities. She is also involved in the design, development and licensing of sports betting and casino gaming platform software for online and retail sports betting and casino gaming products.
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