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Draftkings’ Kalish sells $17.9m in shares

Published 13/08/2025, 03:00
Draftkings’ Kalish sells $17.9m in shares
DKNG
0.14%

Matthew Kalish, a Director and President - DraftKings, North America, at DraftKings Inc. (NASDAQ:DKNG), sold 210,000 shares of Class A Common Stock on August 11 and another 210,000 shares on August 12, at prices ranging from $42.68 to $42.90, for a total value of $17.9 million. The sales occurred as DraftKings trades near $43, having delivered a 37% return over the past year. According to InvestingPro analysis, the company’s revenue grew 26% in the last twelve months, with analysts expecting continued strong growth this year.

According to a Form 4 filing with the Securities and Exchange Commission, the sales were executed under a pre-arranged 10b5-1 trading plan adopted on November 27, 2024.

On August 9, Kalish exercised options to acquire 28,309 shares. On August 11 and August 12, Kalish also exercised options to acquire 210,000 shares on each day at $3.29.

Additionally, on August 9, 13,688 shares were disposed of at a price of $42.88 per share, for a total value of $586,941.

In other recent news, DraftKings Inc. reported impressive second-quarter earnings with a revenue of $1,513 million, marking a 37% increase year-over-year. This figure surpassed both Guggenheim’s projection of $1,388 million and the consensus estimate of $1,424 million. Following these results, Susquehanna raised its price target for DraftKings to $64 from $60, maintaining a Positive rating, while Jefferies adjusted its target to $54 from $53, keeping a Buy rating. Guggenheim and Needham also reiterated their Buy ratings, with price targets set at $60. Despite concerns regarding taxes and market launches, these firms maintain a positive outlook on DraftKings. In related developments, MoffettNathanson increased its price target for Flutter Entertainment to $350 from $310, citing potential U.S. EBITDA growth by 2030. These recent developments highlight the dynamic landscape of the sports betting industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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