Gerber Kawasaki Wealth & Investment Management Purchases Shares of 4,428 Flutter Entertainment plc (NYSE:FLUT)

Gerber Kawasaki Wealth & Investment Management acquired a new position in shares of Flutter Entertainment plc (NYSE:FLUT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,428 shares of the company's stock, valued at approximately $1,144,000.

A number of other large investors have also bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in shares of Flutter Entertainment during the fourth quarter worth $1,654,000. HMI Capital Management L.P. increased its position in Flutter Entertainment by 172.9% in the 4th quarter. HMI Capital Management L.P. now owns 833,809 shares of the company's stock valued at $215,498,000 after acquiring an additional 528,309 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $388,000. Lord Abbett & CO. LLC lifted its position in shares of Flutter Entertainment by 24.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 128,100 shares of the company's stock worth $33,108,000 after purchasing an additional 24,997 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Flutter Entertainment by 204.6% during the fourth quarter. Voya Investment Management LLC now owns 7,020 shares of the company's stock valued at $1,822,000 after purchasing an additional 4,715 shares during the last quarter.

Insider Buying and Selling

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLUT. Peel Hunt upgraded Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Needham & Company LLC lifted their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Truist Financial cut their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research report on Wednesday. JMP Securities dropped their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a research note on Monday, April 14th. Finally, Susquehanna reduced their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $306.67.

Flutter Entertainment Stock Performance

FLUT opened at $232.86 on Friday. The company has a market capitalization of $41.33 billion and a price-to-earnings ratio of 1,058.45. The business's 50-day moving average price is $240.54 and its two-hundred day moving average price is $252.74. Flutter Entertainment plc has a 1 year low of $174.03 and a 1 year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.

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