Matthew Kalish, President of DraftKings North America (NASDAQ:DKNG), recently sold a significant portion of his holdings in the company. According to the latest SEC filing, Kalish sold shares totaling approximately $17.6 million. The sales occurred at prices ranging from $39.77 to $44.05 per share, near the current trading price of $41.30. InvestingPro analysis shows the company has demonstrated strong momentum with 30% revenue growth over the last twelve months, while analysts maintain price targets ranging from $35 to $75.
In addition to these sales, Kalish also engaged in other transactions, including acquiring shares through the exercise of stock options. These acquisitions were valued at around $1.47 million, with prices ranging from $0 to $3.82 per share.
Furthermore, Kalish disposed of shares to cover tax obligations, valued at approximately $755,029, with prices ranging from $43.86 to $47.29 per share.
These transactions were part of a pre-arranged trading plan under Rule 10b5-1, which allows insiders to set up a predetermined plan for buying or selling stock. This plan helps avoid any allegations of insider trading.
In other recent news, DraftKings Inc. has seen several analysts raise their price targets, reflecting a positive outlook on the company’s financial trajectory. TD Cowen lifted its price target to $60, citing improved promotional spending and market expansion opportunities, notably in Missouri. Piper Sandler also increased its target to $60, driven by strong core business performance and optimistic revenue projections for 2025. Stifel raised its target to $57, highlighting DraftKings’ better-than-expected Q4 adjusted EBITDA and increased revenue guidance for fiscal year 2025. Needham set a new target of $65, maintaining a Buy rating and expressing confidence in the company’s ability to meet its 2025 financial guidance. JMP Securities joined the upward revisions, setting a $60 price target and emphasizing DraftKings’ strategic initiatives beyond core sports betting to expand its market presence. These recent developments underscore a broadly optimistic sentiment among analysts regarding DraftKings’ growth potential and financial performance.
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