Sharplink director Joseph Lubin’s entity sells $47.6m in stock

Joseph Michael Lubin, a director at Sharplink, Inc. (NASDAQ:SBET), reported an indirect sale of 5,676,952 shares of common stock on October 8, 2026. The shares were sold at a price of $8.39 per share, totaling approximately $47,629,627. The sale comes as the stock currently trades at $8.41, down 11% over the past week despite posting a 26% gain over the last six months. According to InvestingPro analysis, the stock appears undervalued at current levels.

The transaction was executed by Consensys Software, Inc. (CSI), an entity where Mr. Lubin serves as Chief Executive Officer. CSI sold all its 5,676,952 shares of Sharplink common stock in a block trade. Mr. Lubin disclaims beneficial ownership of these securities for reporting purposes, except to the extent of his pecuniary interest.

Following the reported transactions, Mr. Lubin directly holds 5,154,213 shares of Sharplink common stock. He also holds indirect beneficial ownership of additional shares through other entities, for which he disclaims beneficial ownership except for his pecuniary interest. These include 1,200,000 shares held by Permanent Highest Power Capital LLC, 975,600 shares by ConsenSys AG, and 81,300 shares by Ethereal Ventures Fund II L.P.

Mr. Lubin also reported indirect holdings of several common stock purchase warrants, all held by Consensys Software, Inc. These include 1,382,007 warrants with an exercise price of $6.15, 691,004 warrants at $6.765, 691,004 warrants at $7.38, and 691,004 warrants at $7.995. All these warrants are exercisable from May 30, 2025, and expire on May 30, 2030, having been issued as compensation under a Strategic Advisor Agreement. For deeper insights into SBET’s insider transactions and stock performance, InvestingPro offers a comprehensive Pro Research Report along with 11 additional ProTips for subscribers.

In other recent news, SharpLink Gaming reported its second-quarter earnings, revealing a significant revenue increase but a disappointing earnings per share (EPS) outcome. The company achieved a revenue of $11.53 million, a substantial rise from $0.7 million in the previous year, largely due to its Ethereum treasury strategy. However, SharpLink posted an adjusted EPS of negative $1.88, missing Wall Street’s forecast of $0.42, and reported a net loss of $394.3 million, exacerbated by unrealized losses of $321 million.

In analyst updates, Jones Trading initiated coverage on SharpLink Gaming with a Buy rating and a price target of $13.00, highlighting the company’s shift into an Ethereum operating company. Canaccord, while maintaining a Buy rating, lowered its price target from $16.00 to $8.00, noting the stock’s trading below its modified net asset value. Citizens reiterated a Market Outperform rating with a $30.00 price target, emphasizing the company’s treasury value and strategic positioning. These developments reflect the varied perspectives on SharpLink Gaming’s potential amid its ongoing transformation and market challenges.