DraftKings Inc. (NASDAQ:DKNG) Insider R Stanton Dodge Sells 52,777 Shares

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the transaction, the insider now owns 653,843 shares in the company, valued at approximately $25,499,877. This trade represents a 7.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

R Stanton Dodge also recently made the following trade(s):

• On Friday, March 14th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74.

DraftKings Price Performance

Shares of DKNG stock opened at $38.54 on Thursday. The stock has a 50 day moving average price of $42.17 and a 200 day moving average price of $40.20. The firm has a market capitalization of $18.88 billion, a P/E ratio of -36.36, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its 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%. As a group, sell-side analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DKNG. TD Cowen decreased their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. BTIG Research set a $59.00 price objective on shares of DraftKings in a research report on Monday, February 3rd. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research report on Tuesday, February 18th. Susquehanna reduced their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a report 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Hedge Funds Weigh In On DraftKings

A number of institutional investors have recently modified their holdings of DKNG. Principal Financial Group Inc. increased its holdings in DraftKings by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock worth $9,203,000 after purchasing an additional 29,991 shares during the period. Atria Investments Inc purchased a new position in shares of DraftKings during the third quarter valued at $215,000. Oppenheimer Asset Management Inc. raised its holdings in shares of DraftKings by 79.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,566 shares of the company’s stock valued at $1,041,000 after acquiring an additional 11,734 shares in the last quarter. KBC Group NV lifted its stake in DraftKings by 8.3% in the third quarter. KBC Group NV now owns 30,084 shares of the company’s stock worth $1,179,000 after acquiring an additional 2,318 shares during the period. Finally, Metis Global Partners LLC bought a new position in DraftKings during the 3rd quarter worth about $213,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

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.