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 $6,144,000 were sold by Robins Jason on Aug 08 ’24. At $30.72 per share, Robins Jason sold 200,000 shares. The insider’s holdings dropped to 2,699,815 shares worth approximately $92.17 million following the completion of this transaction.
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Also, Robins Jason purchased 200,000 shares, netting a total of over 6,092,000 in proceeds.
Before that, Liberman Paul had sold 63,206 shares from its account. In a trade valued at $2,465,034, the insider traded DraftKings Inc. shares for $39.00 each. Upon closing the transaction, the insider’s holdings decreased to 63,206 shares, worth approximately $58.6 million.
As published in a research note from Oppenheimer on July 01, 2024, DraftKings Inc. [DKNG] has been retained to an Outperform and the price target has been revised to $58. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in early May. As of April 16, 2024, Goldman has initiated its “Buy” rating for DKNG. Earlier on March 27, 2024, Needham resumed its rating. Their recommendation was “a Buy” for DKNG stock.
Analyzing DKNG Stock Performance
During the last five days, there has been a surge of approximately 11.79%. Over the course of the year, DraftKings Inc. shares have dropped approximately -3.15%. Shares of the company reached a 52-week high of $49.57 on 03/27/24 and a 52-week low of $28.69 on 08/05/24. A 50-day SMA is recorded $36.65, while a 200-day SMA reached $39.00. Nevertheless, trading volume fell to 13.74 million shares from 13.45 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 33.14, which, if violated, would cause prices to drop to 32.13. In the upper region, resistance lies at 34.76. The next price resistance is at 35.37. RSI (Relative Strength Index) is 49.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.22, which suggests the price will decrease in the coming days. Percent R is at 40.11%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
