Key Points
- Paul Liberman sold 484,417 DraftKings shares on March 11 at an average of $25.16 for a total of about $12.19 million, reducing his stake by 69.4% to 213,597 shares valued near $5.37 million.
- Analysts maintain a consensus rating of “Moderate Buy” with a consensus target price of $37.19 (25 Buys, 4 Holds, 2 Sells), though some firms have recently trimmed targets (Bank of America to $30).
- DraftKings shares traded at $26.16 (up ~2.3%), with a market cap of $12.89 billion, a 52-week range of $21.01–$48.78, a negative PE (‑655.35) and a high debt-to-equity ratio (2.91), reflecting losses and significant leverage.
DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider Paul Liberman sold 484,417 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $25.16, for a total value of $12,187,931.72. Following the sale, the insider owned 213,597 shares of the company's stock, valued at $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
DraftKings Stock Up 2.3%
Shares of NASDAQ:DKNG traded up $0.60 during trading on Friday, hitting $26.16. The company's stock had a trading volume of 3,080,747 shares, compared to its average volume of 15,843,387. The company has a market capitalization of $12.89 billion, a PE ratio of -655.35, a PEG ratio of 1.05 and a beta of 1.67. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The stock's 50-day moving average price is $28.08 and its two-hundred day moving average price is $33.50.
Analysts Set New Price Targets
Several research firms have recently commented on DKNG. Weiss Ratings reiterated a "sell (d-)" rating on shares of DraftKings in a research note on Wednesday, January 21st. Citizens Jmp reaffirmed a "market outperform" rating and issued a $38.00 price target on shares of DraftKings in a report on Tuesday, March 3rd. Citigroup reiterated a "market outperform" rating on shares of DraftKings in a research note on Tuesday, February 24th. Bank of America decreased their price objective on shares of DraftKings from $37.50 to $30.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Finally, UBS Group restated a "buy" rating on shares of DraftKings in a research note on Wednesday, January 7th. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.19.
Check Out Our Latest Analysis on DraftKings
Hedge Funds Weigh In On DraftKings
A number of hedge funds have recently added to or reduced their stakes in the business. Dagco Inc. acquired a new stake in shares of DraftKings during the fourth quarter worth $26,000. Ameriflex Group Inc. boosted its holdings in shares of DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company's stock valued at $30,000 after buying an additional 405 shares during the period. Root Financial Partners LLC bought a new stake in shares of DraftKings during the 3rd quarter valued at about $33,000. Asset Dedication LLC acquired a new stake in DraftKings during the third quarter worth about $37,000. Finally, Montag A & Associates Inc. boosted its stake in DraftKings by 82.5% in the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company's stock valued at $38,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 37.70% of the company's stock.
DraftKings Company Profile
(
Get Free Report)
DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings' proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.
Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.
Further Reading
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