DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC boosted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 1,147.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 51,990 shares of the company’s stock after acquiring an additional 47,823 shares during the quarter. Larson Financial Group LLC’s holdings in DraftKings were worth $1,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in DraftKings by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 35,663 shares of the company’s stock worth $1,327,000 after acquiring an additional 1,444 shares during the period. Candriam S.C.A. lifted its position in DraftKings by 11.4% during the 4th quarter. Candriam S.C.A. now owns 25,623 shares of the company’s stock worth $953,000 after acquiring an additional 2,615 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in DraftKings by 27.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock worth $4,766,000 after acquiring an additional 26,164 shares during the period. Arizona State Retirement System lifted its position in DraftKings by 1.5% during the 4th quarter. Arizona State Retirement System now owns 126,891 shares of the company’s stock worth $4,720,000 after acquiring an additional 1,932 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in DraftKings during the 4th quarter worth about $2,924,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. BTIG Research set a $59.00 price objective on DraftKings in a research note on Monday, February 3rd. Argus set a $60.00 price objective on DraftKings in a research note on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Truist Financial lifted their price objective on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insider Activity

In other news, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the sale, the insider now directly owns 541,884 shares in the company, valued at $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Liberman sold 200,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.00, for a total value of $7,800,000.00. Following the completion of the transaction, the insider now owns 1,342,722 shares of the company’s stock, valued at $52,366,158. The trade was a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,783,488 shares of company stock worth $118,128,867 over the last ninety days. Corporate insiders own 51.19% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $39.41 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The business has a 50 day simple moving average of $42.06 and a 200-day simple moving average of $40.04. The firm has a market capitalization of $19.31 billion, a PE ratio of -37.18, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Equities research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.