Insider Selling: DraftKings (NASDAQ:DKNG) Insider Sells 484,417 Shares of Stock

Key Points

• DraftKings insider Paul Liberman sold 484,417 shares on March 11 at an average price of $25.16, generating about $12.19 million and cutting his direct holding by 69.4% to 213,597 shares.
• Shares trade around $25.60 (52‑week range $21.01–$48.78) while analysts maintain a Moderate Buy consensus with an average target price of $37.19, suggesting notable upside from current levels.
• Major institutions have been adding to positions—Vanguard, Janus Henderson, Viking and Capital World among others increased stakes in Q4—leaving institutional investors with roughly 37.7% ownership.

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider Paul Liberman sold 484,417 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 213,597 shares of the company's stock, valued at $5,374,100.52. The trade was a 69.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

DraftKings Trading Up 0.1%

Shares of DKNG stock traded up $0.03 during trading on Thursday, hitting $25.60. 14,661,179 shares of the stock traded hands, compared to its average volume of 17,746,388. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $12.62 billion, a P/E ratio of 852.33, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The firm's fifty day moving average price is $28.26 and its 200-day moving average price is $33.55. DraftKings Inc. has a 52-week low of $21.01 and a 52-week high of $48.78.

Analyst Ratings Changes

DKNG has been the topic of several analyst reports. Canaccord Genuity Group lowered their target price on DraftKings from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein restated an "outperform" rating and set a $30.00 price target on shares of DraftKings in a research note on Thursday, March 5th. Jefferies Financial Group set a $46.00 price target on DraftKings in a report on Tuesday, March 3rd. Guggenheim set a $37.00 price objective on shares of DraftKings in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus reduced their target price on DraftKings from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Twenty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.19.

Institutional Trading of DraftKings

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in DraftKings by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company's stock valued at $1,542,368,000 after acquiring an additional 1,354,457 shares during the period. Janus Henderson Group PLC boosted its holdings in DraftKings by 50.8% during the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company's stock worth $858,893,000 after buying an additional 8,524,923 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of DraftKings by 27.4% in the 4th quarter. Viking Global Investors LP now owns 19,119,912 shares of the company's stock valued at $658,872,000 after buying an additional 4,116,561 shares during the period. Capital World Investors raised its holdings in DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company's stock worth $641,867,000 after buying an additional 12,008,357 shares during the period. Finally, AQR Capital Management LLC increased its holdings in DraftKings by 41.0% during the 4th quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company's stock worth $567,694,000 after purchasing an additional 4,788,337 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Company Profile

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.

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