Sharplink Gaming (NASDAQ:SBET) Stock: Insider Joseph Michael Lubin Sells 5,676,952 Shares

Sharplink Gaming Inc. (NASDAQ:SBET) Director Joseph Lubin sold 5,676,952 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $8.39, for a total value of $47,629,627.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $7.90 on Thursday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 158.00 and a beta of 10.60. The stock has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $6.96. Sharplink Gaming Inc. has a 52-week low of $4.46 and a 52-week high of $16.20.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). The firm had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. As a group, equities research analysts predict that Sharplink Gaming Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on SBET. Wall Street Zen raised shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. B. Riley Financial restated a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Sharplink Gaming in a report on Tuesday, September 22nd. Cantor Fitzgerald raised their price target on shares of Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Citizens Jmp reduced their price objective on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sharplink Gaming in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sharplink Gaming has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Trading of Sharplink Gaming

Large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC acquired a new position in Sharplink Gaming during the third quarter valued at approximately $382,000. GAMMA Investing LLC raised its position in shares of Sharplink Gaming by 355.7% in the third quarter. GAMMA Investing LLC now owns 6,116 shares of the company’s stock valued at $57,000 after purchasing an additional 4,774 shares during the period. Galvin Gaustad & Stein LLC bought a new position in shares of Sharplink Gaming in the third quarter valued at approximately $102,000. WINTON GROUP Ltd acquired a new stake in shares of Sharplink Gaming in the second quarter worth $129,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Sharplink Gaming in the second quarter worth $66,000. Institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

SharpLink Gaming Ltd. (NASDAQ: SBET) is a technology and digital marketing company serving the online sports betting and iGaming industries. Its platform is designed to help sportsbook and casino operators acquire, engage and retain customers through performance marketing, affiliate partnerships, data-driven campaigns and conversion tools.

The company has historically focused on connecting sports audiences with licensed online betting and gaming operators, supporting customer referral programs and related marketing initiatives.