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 $26,545,315 were sold by Liberman Paul on Sep 25 ’24. At $41.24 per share, Liberman Paul sold 643,654 shares. The insider’s holdings dropped to 137,308 shares worth approximately $5.17 million following the completion of this transaction.
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Also, Liberman Paul purchased 643,654 shares, netting a total of over 26,396,251 in proceeds.
Before that, Liberman Paul had sold 88,441 shares from its account. In a trade valued at $3,151,845, the insider traded DraftKings Inc. shares for $35.64 each. Upon closing the transaction, the insider’s holdings decreased to 88,441 shares, worth approximately $94.07 million.
As published in a research note from Susquehanna on October 07, 2024, DraftKings Inc. [DKNG] has been retained to a Positive and the price target has been revised to $50. Analysts at Exane BNP Paribas upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in early September. As of September 04, 2024, UBS has reiterated its “Buy” rating for DKNG. Earlier on September 04, 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 -1.03%. Over the course of the year, DraftKings Inc. shares have jumped approximately 6.81%. 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 $36.54, while a 200-day SMA reached $39.35. Nevertheless, trading volume fell to 7.74 million shares from 6.95 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 36.66, which, if violated, would cause prices to drop to 35.66. In the upper region, resistance lies at 38.29. The next price resistance is at 38.92. RSI (Relative Strength Index) is 48.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.44, which suggests the price will decrease in the coming days. Percent R is at 69.18%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
