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 $20,379,238 were sold by Liberman Paul on Dec 26 ’24. At $38.30 per share, Liberman Paul sold 532,095 shares. The insider’s holdings dropped to 68,654 shares worth approximately $2.55 million following the completion of this transaction.
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Also, Liberman Paul purchased 732,095 shares, netting a total of over 27,944,066 in proceeds.
Before that, Dodge R Stanton had sold 228,496 shares from its account. In a trade valued at $9,765,919, the Chief Legal Officer traded DraftKings Inc shares for $42.74 each. Upon closing the transaction, the insider’s holdings decreased to 228,496 shares, worth approximately $20.16 million.
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 -2.97%. Over the course of the year, DraftKings Inc shares have jumped approximately 5.53%. 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 $40.14, while a 200-day SMA reached $39.41. Nevertheless, trading volume fell to 6.56 million shares from 4.36 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 36.80, which, if violated, would cause prices to drop to 36.40. In the upper region, resistance lies at 37.50. The next price resistance is at 37.80. RSI (Relative Strength Index) is 35.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.81, which suggests the price will decrease in the coming days. Percent R is at 90.57%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
