The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DraftKings Inc. shares valued at $8,178,308 were sold by Robins Jason on Feb 21 ’24. At $40.89 per share, Robins Jason sold 200,000 shares. The insider’s holdings dropped to 3,195,812 shares worth approximately $134.9 million following the completion of this transaction.
Also, Dodge R Stanton sold 686,101 shares, netting a total of over 29,543,509 in proceeds. Following the sale of shares at $43.06 each, the insider now holds 200,239 shares.
Before that, Robins Jason had sold 450,000 shares from its account. In a trade valued at $19,377,000, the insider traded DraftKings Inc. shares for $43.06 each. Upon closing the transaction, the insider’s holdings decreased to 450,000 shares, worth approximately $142.4 million.
As published in their initiating research note from Goldman on April 16, 2024, DraftKings Inc. [DKNG] has been a Buy and the price target has been revised to $60. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late March. As of March 26, 2024, Mizuho has initiated its “Buy” rating for DKNG. Earlier on March 25, 2024, Susquehanna resumed its rating. Their recommendation was “a Positive” for DKNG stock.
Analyzing DKNG Stock Performance
During the last five days, there has been a drop of approximately -6.16%. Over the course of the year, DraftKings Inc. shares have jumped approximately 19.74%. Shares of the company reached a 52-week high of $49.57 on 03/27/24 and a 52-week low of $31.98 on 01/04/24. A 50-day SMA is recorded $43.75, while a 200-day SMA reached $35.18. Nevertheless, trading volume fell to 13.36 million shares from 7.45 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 40.99, which, if violated, would cause prices to drop to 39.77. In the upper region, resistance lies at 44.56. The next price resistance is at 46.91. RSI (Relative Strength Index) is 41.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.30, which suggests the price will decrease in the coming days. Percent R is at 98.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
