Sharplink Gaming Inc. $SBET Stake Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Sharplink Gaming Inc. (NASDAQ:SBET) by 73.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,558,589 shares of the company’s stock after purchasing an additional 1,083,956 shares during the period. BNP Paribas Financial Markets owned approximately 1.30% of Sharplink Gaming worth $22,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sharplink Gaming during the third quarter worth $49,000. R Squared Ltd purchased a new stake in shares of Sharplink Gaming during the fourth quarter worth $90,000. Abacus Planning Group Inc. purchased a new stake in shares of Sharplink Gaming during the fourth quarter worth $94,000. NewEdge Advisors LLC purchased a new stake in shares of Sharplink Gaming during the second quarter worth $101,000. Finally, IFP Advisors Inc purchased a new stake in shares of Sharplink Gaming during the third quarter worth $102,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cantor Fitzgerald upgraded Sharplink Gaming to a “strong-buy” rating in a report on Thursday, April 9th. Citizens Jmp cut their price objective on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Wednesday, March 11th. TD Cowen assumed coverage on Sharplink Gaming in a report on Friday, April 10th. They set a “buy” rating and a $16.00 price objective for the company. HC Wainwright assumed coverage on Sharplink Gaming in a report on Tuesday, April 7th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Wall Street Zen upgraded Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Insider Buying and Selling at Sharplink Gaming

In other Sharplink Gaming news, Director Robert M. Gutkowski sold 12,892 shares of the firm’s stock in a transaction dated 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 directly owned 24,998 shares in the company, valued at $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Obie Mckenzie sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.41, for a total value of $95,529.72. Following the transaction, the director owned 24,998 shares in the company, valued at approximately $185,235.18. This trade represents a 34.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,676 shares of company stock worth $286,589 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Sharplink Gaming Price Performance

NASDAQ SBET opened at $5.19 on Friday. Sharplink Gaming Inc. has a fifty-two week low of $5.06 and a fifty-two week high of $49.52. The stock’s 50-day moving average is $6.72 and its two-hundred day moving average is $8.12. The firm has a market cap of $1.02 billion, a P/E ratio of -8.65 and a beta of 10.39.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Friday, May 8th. The company reported ($3.25) earnings per share 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 company had revenue of $12.06 million for the quarter, compared to the consensus estimate of $14.60 million. During the same quarter last year, the business earned ($1.84) earnings per share. On average, equities analysts expect that Sharplink Gaming Inc. will post 0.15 EPS for the current year.

Sharplink Gaming Company Profile

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.