TFB Advisors LLC Has $787,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

TFB Advisors LLC lifted its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,160 shares of the company’s stock after buying an additional 3,151 shares during the quarter. TFB Advisors LLC’s holdings in DraftKings were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in DraftKings during the fourth quarter worth $28,000. Synergy Asset Management LLC acquired a new position in shares of DraftKings during the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings during the 3rd quarter worth about $43,000. V Square Quantitative Management LLC acquired a new stake in shares of DraftKings in the 3rd quarter valued at about $46,000. Finally, Creative Financial Designs Inc. ADV increased its position in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DKNG shares. JMP Securities cut their price target on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of DraftKings in a research report on Friday, February 7th. Morgan Stanley boosted their price target on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Barclays raised their price objective on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $43.44 on Wednesday. The company has a 50 day moving average of $40.32 and a 200 day moving average of $38.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a market cap of $21.18 billion, a P/E ratio of -49.36, a P/E/G ratio of 3.18 and a beta of 1.93. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

Insider Buying and Selling

In related news, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares in the company, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 963,742 shares of company stock worth $38,082,888 over the last ninety days. 51.19% of the stock is owned by corporate insiders.

DraftKings 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.