DraftKings Inc (NASDAQ:DKNG), a digital sports entertainment and gaming company known for its fantasy sports and mobile sports betting platforms, has reported an insider sale according to a recent SEC filing. Chief Legal Officer R Dodge sold 52,777 shares of the company on January 22, 2024.
The transaction was executed at a price of $37.82 per share, resulting in a total sale amount of approximately $1,995,982.14. Following this transaction, the insider's total sales over the past year amount to 881,167 shares, with no recorded purchases in the same period.
The insider transaction history at DraftKings Inc indicates a trend of insider sales, with 47 insider sells and no insider buys over the past year. This pattern of insider activity can often provide insight into the company's internal perspective on its stock's value and future performance.
On the valuation front, DraftKings Inc's shares were trading at $37.82 on the day of the insider's sale, giving the company a market capitalization of $17.93 billion. The stock's price-to-GF-Value ratio stands at 0.92, suggesting that it is Fairly Valued when compared to the GF Value of $40.89.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow. Additionally, it incorporates a GuruFocus adjustment factor based on the company's historical returns and growth, as well as future business performance estimates provided by Morningstar analysts.
DraftKings Inc continues to be a key player in the digital sports entertainment and gaming industry, offering users a variety of gaming options including daily fantasy sports, sports betting, and iGaming.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
