Saturday, June 25, 2022

DraftKings Inc. [DKNG] Robins Jason makes an insider sale of 320,356 shares worth 5.57 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. DraftKings Inc. shares valued at $5,567,490 were sold by Robins Jason on Mar 16. At $17.38 per share, Robins Jason sold 320,356 shares. The insider’s holdings dropped to 4,253,837 shares worth approximately $53.26 million following the completion of this transaction.

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Also, Robins Jason sold 338,027 shares, netting a total of over 5,265,645 in proceeds. Following the sale of shares at $15.58 each, the insider now holds 4,574,193 shares.

Before that, Nada Hany M had added 65,000 shares to its account. In a trade valued at $997,100, the Director bought DraftKings Inc. shares for $15.34 each. Upon closing the transaction, the insider’s holdings increased to 65,000 shares, worth approximately $2.22 million.

As published in a research note from Citigroup on March 30, 2022, Sera Prognostics Inc. [SERA] has been rated down from a Buy to a Neutral and the price target has been revised to $4 from $18. This represents a 65.25% premium over Wednesday’s closing price. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid November. This represents a 62.06% premium over Wednesday’s closing price. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early March. As of February 22, 2022, ROTH Capital has increased its “Sell” rating to a “Neutral” for DKNG. Earlier on February 22, 2022, Truist resumed its rating. Their recommendation was “a Hold” for DKNG stock.

Analyzing DKNG’s Price Performance

On Wednesday, DraftKings Inc. [NASDAQ: DKNG] rose 2.88% to $12.52. The stock’s lowest price that day was $11.87, but it reached a high of $13.03 in the same session. During the last five days, there has been a surge of approximately 7.84%. Over the course of the year, DraftKings Inc. shares have dropped approximately -54.42%. Shares of the company reached a 52-week high of $28.55 on 01/03/22 and a 52-week low of $9.77 on 05/12/22. A 50-day SMA is recorded $13.71, while a 200-day SMA reached $28.18. Nevertheless, trading volume fell to 18.52 million shares from 20.14 million shares the previous day.

Support And Resistance Levels for DraftKings Inc. (DKNG)

According to the 24-hour chart, there is a support level at 11.92, which, if violated, would cause prices to drop to 11.31. In the upper region, resistance lies at 13.08. The next price resistance is at 13.63. RSI (Relative Strength Index) is 47.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 51.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of DraftKings Inc. (DKNG)?

According to The Vanguard Group, Inc. filings, the company currently owns 26,914,343 shares, which is about 6.15% of the total DKNG shares outstanding. The investor’s shares have appreciated by 509,366 from its previous 13-F filing of 26404977.0 shares. With the completion of the buy, ARK Investment Management LLC’s stake is now worth $317,293,101. Nikko Asset Management Co., Ltd. acquire a 10.39% interest valued at $191.62 million while Nikko Asset Management Americas, purchased a 1,035,220 stake. A total of -82,143 shares of DraftKings Inc. were bought by BlackRock Fund Advisors during the quarter, and 0 were sold by Raine Capital LLC. In its current portfolio, T. Rowe Price Associates, Inc. holds 9,077,384 shares valued at $123.0 million.

In terms of DraftKings Inc. share price expectations, FactSet research, analysts set an average price target of $27.72 in the next 12 months, up nearly 105.42% from the previous closing price of $12.17. Analysts anticipate DraftKings Inc. stock to reach $60.00 by 2022, with the lowest price target being $13.00. In spite of this, 31 analysts ranked DraftKings Inc. stock as an Overweight at the end of 2022. On February 22, 2022, Oppenheimer assigned a price target of “an Outperform” to the stock and reiterated coverage with a $32.

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