DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 200,000 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $40.91, for a total value of $8,182,000.00. Following the transaction, the insider now directly owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Jason Robins also recently made the following trade(s):

• On Wednesday, February 21st, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00.

DraftKings Stock Down 0.9 %

DKNG opened at $40.85 on Thursday. DraftKings Inc. has a 12 month low of $20.26 and a 12 month high of $49.57. The stock has a market cap of $35.40 billion, a P/E ratio of -23.34 and a beta of 1.86. The stock’s 50 day moving average price is $43.63 and its 200 day moving average price is $38.24. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted ($0.53) earnings per share. The firm’s revenue for the quarter was up 43.9% compared to the same quarter last year. As a group, research analysts predict that DraftKings Inc. will post -0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $52.00 target price on shares of DraftKings in a report on Monday, March 25th. Piper Sandler increased their target price on DraftKings from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Stifel Nicolaus raised DraftKings from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $45.00 in a report on Friday, January 19th. Susquehanna increased their target price on DraftKings from $51.00 to $54.00 and gave the stock a “positive” rating in a report on Monday, March 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $50.00 target price on shares of DraftKings in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, DraftKings presently has a consensus rating of “Moderate Buy” and an average target price of $47.31.

Hedge Funds Weigh In On DraftKings

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of DraftKings during the 4th quarter valued at $7,975,000. Deutsche Bank AG increased its position in shares of DraftKings by 169.1% during the 3rd quarter. Deutsche Bank AG now owns 1,338,075 shares of the company’s stock valued at $39,393,000 after purchasing an additional 840,755 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of DraftKings during the 3rd quarter valued at $209,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of DraftKings by 27.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 296,900 shares of the company’s stock worth $8,741,000 after acquiring an additional 64,186 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of DraftKings by 1.1% during the 4th quarter. Arizona State Retirement System now owns 114,767 shares of the company’s stock worth $4,046,000 after acquiring an additional 1,237 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

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.