DraftKings (NASDAQ:DKNG) Director Sells $210,043.81 in Stock

Key Points

• Jocelyn Moore, Director of DraftKings, sold 4,861 shares for approximately $210,043.81, reducing her ownership stake by 76.89% to 1,461 shares.
• DraftKings reported a revenue increase of 36.9% year-over-year for the last quarter, earning $1.51 billion and beating analysts’ expectations.
• Analysts maintain a consensus target price of $54.50 for DraftKings, with a majority rating the stock as a "buy".

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) Director Jocelyn Moore sold 4,861 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the transaction, the director owned 1,461 shares in the company, valued at $63,129.81. This represents a 76.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jocelyn Moore also recently made the following trade(s):

• On Friday, May 30th, Jocelyn Moore sold 3,136 shares of DraftKings stock. The stock was sold at an average price of $35.28, for a total value of $110,638.08.

DraftKings Price Performance

Shares of NASDAQ DKNG traded down $0.1550 during midday trading on Tuesday, hitting $45.5450. The stock had a trading volume of 3,345,389 shares, compared to its average volume of 10,355,624. The company has a market capitalization of $40.51 billion, a PE ratio of -69.98, a P/E/G ratio of 1.07 and a beta of 1.70. The stock has a 50 day simple moving average of $42.58 and a 200-day simple moving average of $39.49. DraftKings Inc. has a 1 year low of $29.64 and a 1 year high of $53.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.82.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.14. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $0.12 earnings per share. The business's quarterly revenue was up 36.9% compared to the same quarter last year. DraftKings has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on DKNG shares. Susquehanna reissued a "positive" rating and set a $64.00 target price on shares of DraftKings in a research note on Friday, August 8th. Needham & Company LLC reissued a "buy" rating and set a $65.00 target price on shares of DraftKings in a research note on Friday, May 9th. Macquarie cut their target price on DraftKings from $55.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. JMP Securities cut their target price on DraftKings from $54.00 to $50.00 and set a "market outperform" rating for the company in a research note on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft set a $47.00 target price on DraftKings and gave the stock a "hold" rating in a research note on Friday, August 8th. Twenty-five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DKNG. Janus Henderson Group PLC lifted its holdings in DraftKings by 31,346.8% during the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock worth $349,005,000 after buying an additional 9,352,019 shares during the last quarter. Norges Bank purchased a new stake in DraftKings during the 2nd quarter worth about $362,554,000. AQR Capital Management LLC lifted its holdings in DraftKings by 2,138.9% during the 1st quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company's stock worth $155,962,000 after buying an additional 4,486,488 shares during the last quarter. Brown Advisory Inc. lifted its holdings in DraftKings by 53,272.1% during the 2nd quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company's stock worth $173,974,000 after buying an additional 4,048,680 shares during the last quarter. Finally, Eminence Capital LP lifted its holdings in DraftKings by 195.2% during the 1st quarter. Eminence Capital LP now owns 5,178,083 shares of the company's stock worth $171,964,000 after buying an additional 3,423,909 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

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.