DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 200,000 Shares

DraftKings Inc. (NASDAQ:DKNGGet Free Report) insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $43.59, for a total value of $8,718,000.00. Following the completion of the transaction, the insider now directly owns 2,668,954 shares of the company’s stock, valued at approximately $116,339,704.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jason Robins also recently made the following trade(s):

  • On Wednesday, May 8th, Jason Robins sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $42.67, for a total transaction of $8,534,000.00.
  • On Monday, April 22nd, Jason Robins sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $40.91, for a total transaction of $8,182,000.00.

DraftKings Stock Down 3.1 %

NASDAQ DKNG traded down $1.30 during trading on Thursday, hitting $40.60. The company’s stock had a trading volume of 16,900,625 shares, compared to its average volume of 11,275,370. DraftKings Inc. has a fifty-two week low of $22.92 and a fifty-two week high of $49.57. The company has a market cap of $35.29 billion, a PE ratio of -34.41 and a beta of 1.87. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50 day simple moving average is $43.97 and its 200-day simple moving average is $40.28.

DraftKings (NASDAQ:DKNGGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The company’s quarterly revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.87) EPS. On average, equities analysts anticipate that DraftKings Inc. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DKNG has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $55.00 price objective (up previously from $45.00) on shares of DraftKings in a research report on Tuesday, February 20th. Oppenheimer boosted their price target on shares of DraftKings from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Susquehanna increased their price objective on shares of DraftKings from $54.00 to $56.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Needham & Company LLC restated a “buy” rating and issued a $58.00 target price on shares of DraftKings in a report on Friday, May 3rd. Finally, Stifel Nicolaus increased their price target on shares of DraftKings from $50.00 to $51.00 and gave the company a “buy” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and a consensus target price of $49.21.

View Our Latest Stock Report on DraftKings

Hedge Funds Weigh In On DraftKings

A number of institutional investors have recently bought and sold shares of DKNG. Highlander Capital Management LLC lifted its position in DraftKings by 180.0% during the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares during the period. LRI Investments LLC acquired a new stake in DraftKings during the first quarter worth about $31,000. LifeSteps Financial Inc. acquired a new stake in DraftKings during the first quarter worth about $33,000. Transcendent Capital Group LLC purchased a new stake in DraftKings in the 4th quarter worth approximately $26,000. Finally, Concord Wealth Partners boosted its holdings in DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after buying an additional 453 shares in the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

About DraftKings

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for DraftKings (NASDAQ:DKNG)

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