Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Flutter Entertainment plc (NYSE:FLUT) by 83.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,165 shares of the company’s stock after selling 231,426 shares during the period. Wells Fargo & Company MN’s holdings in Flutter Entertainment were worth $12,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FLUT. Prudential PLC boosted its stake in shares of Flutter Entertainment by 92.6% during the fourth quarter. Prudential PLC now owns 30,244 shares of the company’s stock valued at $7,817,000 after acquiring an additional 14,538 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Flutter Entertainment in the 4th quarter valued at about $18,106,000. Westpac Banking Corp acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth about $296,000. Ardmore Road Asset Management LP grew its holdings in shares of Flutter Entertainment by 191.7% during the fourth quarter. Ardmore Road Asset Management LP now owns 189,594 shares of the company’s stock worth $49,001,000 after buying an additional 124,594 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Flutter Entertainment by 2,885.7% in the fourth quarter. Huntington National Bank now owns 209 shares of the company’s stock valued at $54,000 after buying an additional 202 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $229.20 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment plc has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a market capitalization of $40.68 billion and a price-to-earnings ratio of 1,041.80. The business has a 50-day moving average of $249.21 and a 200-day moving average of $253.16.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value 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 trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

FLUT has been the subject of several recent analyst reports. Benchmark lifted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Truist Financial assumed coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective for the company. Wells Fargo & Company increased their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Finally, Needham & Company LLC upped their price objective on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $312.06.

Flutter Entertainment Profile

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.