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 $9,765,919 were sold by Dodge R Stanton on Dec 09 ’24. At $42.74 per share, Dodge R Stanton sold 228,496 shares. The insider’s holdings dropped to 541,884 shares worth approximately $20.9 million following the completion of this transaction.
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Also, Robert Stanton Dodge purchased 500,000 shares, netting a total of over 21,895,000 in proceeds.
Before that, Dodge R Stanton had added 228,496 shares to its account. In a trade valued at $9,766,819, the Officer bought DraftKings Inc shares for $42.74 each.
As published in a research note from Mizuho on October 18, 2024, DraftKings Inc [DKNG] has been retained to an Outperform and the price target has been revised to $62. Analysts at Susquehanna resumed the stock at ‘”a Positive”‘ outlook in a report released in early October. As of September 10, 2024, Exane BNP Paribas has increased its “an Underperform” rating to a “Neutral” for DKNG. Earlier on September 04, 2024, UBS resumed its rating. Their recommendation was “a Buy” for DKNG stock.
Analyzing DKNG Stock Performance
During the last five days, there has been a drop of approximately -5.43%. Over the course of the year, DraftKings Inc shares have jumped approximately 9.25%. 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 $40.15, while a 200-day SMA reached $39.50. Nevertheless, trading volume fell to 3.17 million shares from 8.09 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 38.12, which, if violated, would cause prices to drop to 37.67. In the upper region, resistance lies at 38.84. The next price resistance is at 39.11. RSI (Relative Strength Index) is 39.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 92.06%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
