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

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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed 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 transaction of $1,985,470.74.

DraftKings Price Performance

Shares of DKNG opened at $38.54 on Thursday. The firm has a market cap of $18.88 billion, a PE ratio of -36.36, a P/E/G 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. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $42.17 and a two-hundred day simple moving average of $40.20.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. On average, equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On DraftKings

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company’s stock worth $349,005,000 after acquiring an additional 9,352,019 shares during the period. Norges Bank purchased a new stake in shares of DraftKings in the 4th quarter worth $276,328,000. FMR LLC raised its holdings in DraftKings by 110.6% in the 4th quarter. FMR LLC now owns 13,617,448 shares of the company’s stock worth $506,569,000 after purchasing an additional 7,150,382 shares during the period. Baillie Gifford & Co. bought a new stake in DraftKings during the fourth quarter valued at about $246,765,000. Finally, Eminence Capital LP purchased a new stake in DraftKings in the fourth quarter worth about $65,255,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark raised their price objective on shares of DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Truist Financial raised their target price on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Susquehanna decreased their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus boosted their target price on shares of DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley increased their price target on shares of DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.44.

About DraftKings

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.