DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 150,000 Shares

DraftKings Inc. (NASDAQ:DKNG – Get Rating) insider Jason Robins sold 150,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $25.01, for a total transaction of $3,751,500.00. Following the transaction, the insider now owns 5,309,265 shares of the company’s stock, valued at approximately $132,784,717.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, May 19th, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $23.99, for a total transaction of $4,798,000.00.
• On Monday, May 8th, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $24.34, for a total transaction of $4,868,000.00.
• On Friday, April 21st, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $21.72, for a total transaction of $4,344,000.00.
• On Monday, March 27th, Jason Robins sold 300,000 shares of DraftKings stock. The stock was sold at an average price of $17.72, for a total transaction of $5,316,000.00.
• On Tuesday, March 14th, Jason Robins sold 280,704 shares of DraftKings stock. The stock was sold at an average price of $18.44, for a total transaction of $5,176,181.76.

DraftKings Trading Down 3.8 %

Shares of DKNG stock opened at $24.27 on Wednesday. The firm has a market cap of $20.75 billion, a P/E ratio of -8.37 and a beta of 1.80. DraftKings Inc. has a 1-year low of $10.52 and a 1-year high of $26.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50-day simple moving average is $20.64 and its 200-day simple moving average is $17.01.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in DraftKings by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 242,790 shares of the company’s stock valued at $2,765,000 after buying an additional 4,431 shares during the period. Transcend Capital Advisors LLC purchased a new position in DraftKings in the fourth quarter valued at approximately $140,000. Harbor Investment Advisory LLC raised its holdings in DraftKings by 56.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 31,526 shares of the company’s stock valued at $359,000 after buying an additional 11,335 shares during the period. CNB Bank raised its holdings in DraftKings by 14.2% in the third quarter. CNB Bank now owns 8,307 shares of the company’s stock valued at $125,000 after buying an additional 1,035 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in DraftKings by 7.5% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 18,280 shares of the company’s stock valued at $208,000 after buying an additional 1,273 shares during the period. Hedge funds and other institutional investors own 30.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. SpectralCast reaffirmed a “maintains” rating on shares of DraftKings in a research note on Monday, May 8th. Citigroup increased their price objective on shares of DraftKings from $25.00 to $30.00 in a research note on Sunday, May 14th. MKM Partners cut shares of DraftKings from a “neutral” rating to a “sell” rating and set a $15.00 price objective on the stock. in a research note on Thursday, February 9th. BNP Paribas raised shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $17.00 price objective on the stock in a research note on Thursday, April 13th. Finally, Roth Mkm increased their price objective on shares of DraftKings from $15.00 to $18.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, DraftKings has an average rating of “Hold” and an average target price of $24.80.

DraftKings Company Profile

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DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.