Vontobel Holding Ltd. Has $3.08 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Vontobel Holding Ltd. boosted its position in DraftKings Inc. (NASDAQ:DKNG) by 40.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,744 shares of the company’s stock after buying an additional 24,036 shares during the quarter. Vontobel Holding Ltd.’s holdings in DraftKings were worth $3,078,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in DraftKings in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new position in DraftKings in the fourth quarter valued at approximately $30,000. Delos Wealth Advisors LLC bought a new position in DraftKings in the third quarter valued at approximately $43,000. V Square Quantitative Management LLC bought a new position in DraftKings in the third quarter valued at approximately $46,000. Finally, Creative Financial Designs Inc. ADV grew its stake in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $53.49 on Monday. The stock has a market capitalization of $26.08 billion, a PE ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $40.54 and a two-hundred day moving average price of $38.77. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, equities analysts predict that DraftKings Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at DraftKings

In other news, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 228,496 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This trade represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,163,742 shares of company stock valued at $47,082,888 in the last three months. Corporate insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Benchmark raised their price target on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group raised their price target on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of DraftKings in a research note on Friday. Three investment 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 an average rating of “Moderate Buy” and an average price target of $51.64.

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.