Sharplink Gaming Inc. $SBET Stock Holdings Lessened by ParaFi Capital LP

ParaFi Capital LP lessened its stake in shares of Sharplink Gaming Inc. (NASDAQ:SBET) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,902,430 shares of the company’s stock after selling 223,000 shares during the quarter. Sharplink Gaming makes up approximately 9.7% of ParaFi Capital LP’s investment portfolio, making the stock its 4th biggest holding. ParaFi Capital LP’s holdings in Sharplink Gaming were worth $34,888,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBET. Vanguard Group Inc. purchased a new stake in Sharplink Gaming during the 3rd quarter valued at $46,447,000. Alyeska Investment Group L.P. purchased a new stake in Sharplink Gaming during the 3rd quarter valued at $42,509,000. Tidal Investments LLC purchased a new stake in Sharplink Gaming during the 3rd quarter valued at $30,283,000. Citigroup Inc. purchased a new stake in Sharplink Gaming during the 3rd quarter valued at $27,560,000. Finally, BNP Paribas Financial Markets purchased a new stake in Sharplink Gaming during the 3rd quarter valued at $25,084,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Insider Transactions at Sharplink Gaming

In other news, Director Robert M. Gutkowski sold 12,892 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total transaction of $95,529.72. Following the transaction, the director owned 24,998 shares of the company’s stock, valued at approximately $185,235.18. This represents a 34.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie Bernhard sold 12,892 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director directly owned 24,998 shares in the company, valued at $185,235.18. The trade was a 34.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 38,676 shares of company stock valued at $286,589. 3.60% of the stock is currently owned by corporate insiders.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $5.51 on Monday. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $7.95. The company has a market capitalization of $1.09 billion, a PE ratio of -9.18 and a beta of 10.39. Sharplink Gaming Inc. has a 52 week low of $5.06 and a 52 week high of $40.46.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings data on Friday, May 8th. The company reported ($3.25) EPS for the quarter, missing the consensus estimate of ($0.62) by ($2.63). Sharplink Gaming had a negative net margin of 3,604.61% and a negative return on equity of 38.53%. The business had revenue of $12.06 million during the quarter, compared to the consensus estimate of $14.60 million. During the same period last year, the company earned ($1.84) EPS. As a group, research analysts anticipate that Sharplink Gaming Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on SBET. Wall Street Zen upgraded Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. TD Cowen began coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price target on the stock. Alliance Global Partners restated a “buy” rating on shares of Sharplink Gaming in a report on Monday, May 11th. Citizens Jmp decreased their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th. Finally, Cantor Fitzgerald raised Sharplink Gaming to a “strong-buy” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.11.

About Sharplink Gaming

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.