Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. DraftKings Inc. shares valued at $3,151,845 were sold by Liberman Paul on Aug 26 ’24. At $35.64 per share, Liberman Paul sold 88,441 shares. The insider’s holdings dropped to 2,498,483 shares worth approximately $95.12 million following the completion of this transaction.
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Also, Liberman Paul purchased 88,441 shares, netting a total of over 3,236,941 in proceeds.
Before that, Robins Jason had sold 200,000 shares from its account. In a trade valued at $7,050,585, the insider traded DraftKings Inc. shares for $35.25 each. Upon closing the transaction, the insider’s holdings decreased to 200,000 shares, worth approximately $101.95 million.
As published in a research note from Exane BNP Paribas on September 10, 2024, DraftKings Inc. [DKNG] has been rated up from an Underperform to a Neutral and the price target has been revised to $35. Analysts at UBS resumed the stock at ‘”a Buy”‘ outlook in a report released in early September. As of September 04, 2024, Susquehanna has reiterated its “Positive” rating for DKNG. Earlier on July 01, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for DKNG stock.
Analyzing DKNG Stock Performance
During the last five days, there has been a drop of approximately -0.96%. Over the course of the year, DraftKings Inc. shares have jumped approximately 8.00%. 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 $35.40, while a 200-day SMA reached $39.06. Nevertheless, trading volume fell to 8.23 million shares from 8.61 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 37.55, which, if violated, would cause prices to drop to 37.04. In the upper region, resistance lies at 39.01. The next price resistance is at 39.96. RSI (Relative Strength Index) is 59.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.99, which suggests the price will increase in the coming days. Percent R is at 22.20%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
