DraftKings chairman Paul Liberman is selling $7.8 million worth of stock to Investing.com
Paul Liberman, President of Global Technology and Product at DraftKings Inc. (NASDAQ: ), recently sold 200,000 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $39 each, for a total of $7.8 million. The transaction comes as DraftKings, now valued at $19.3 billion, traded its stock near a 52-week high of $49.57, with InvestingPro data shows strong revenue growth of 40% over the last twelve months. The transaction was executed according to a pre-agreed trading plan established on March 5, 2024, under the guidelines of Rule 10b5-1. After the sale, Liberman holds a significant number of shares in various trusts, including the Paul Liberman 2015 Revocable Trust and the Paul Liberman 2020 Trust. While InvestingPro analysis shows that the stock is currently fairly valued, analysts are optimistic about the company’s outlook, with forecasts pointing to profitability in the current year. Get access to 10+ additional exclusive pro tips and comprehensive analysis via Pro Research Report.
In other recent news, DraftKings Inc . has been the subject of multiple analyst reports. Susquehanna cut the company’s fourth-quarter revenue estimate to $1.4 billion, with EBITDA of $81 million, despite maintaining a positive rating. Similarly, Benchmark also maintained a buy rating on DraftKings stock, adjusting their revenue estimate downward by approximately $136 million. Meanwhile, JPMorgan raised its price target on DraftKings to $53.00, citing a strong outlook for revenue growth, and Goldman Sachs maintained its buy rating and $57.00 price target, highlighting the company’s growth potential.
Flutter Entertainment, another major player in the online sports betting and iGaming industry, reported a period of unfavorable sports results in the US, leading to an estimated negative impact on gross gaming revenue of $438 million. Despite this, the company remains confident in its long-term growth trajectory.
These are recent developments, and it’s important to note that despite the Q4 estimate adjustments, analysts are optimistic about DraftKings’ growth prospects. The company’s future guidance includes generating approximately $850 million in free cash flow in fiscal 2025, with projected revenue between $6.2 billion and $6.6 billion, and adjusted EBITDA guidance in the range of $900 million to $1 billion. DraftKings is also expected to launch in Missouri in September 2025, a development that analysts believe will significantly increase the company’s revenue and EBITDA.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
