DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $601,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 36.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,154 shares of the company’s stock after buying an additional 4,278 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in DraftKings were worth $601,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DKNG. Vanguard Group Inc. boosted its stake in shares of DraftKings by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company’s stock worth $1,602,327,000 after acquiring an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of DraftKings by 4.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company’s stock valued at $690,791,000 after acquiring an additional 707,504 shares in the last quarter. FMR LLC boosted its position in DraftKings by 110.6% during the fourth 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. Geode Capital Management LLC grew its holdings in DraftKings by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company’s stock valued at $299,921,000 after purchasing an additional 89,988 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DraftKings in the fourth quarter valued at approximately $276,328,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DKNG shares. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price (up from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Stifel Nicolaus dropped their price objective on DraftKings from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Barclays decreased their target price on DraftKings from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, Benchmark increased their price objective on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.18.

DraftKings Stock Up 2.6%

Shares of NASDAQ:DKNG opened at $36.26 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market cap of $32.02 billion, a price-to-earnings ratio of -34.21, a P/E/G ratio of 1.43 and a beta of 1.89. The company has a 50 day moving average of $35.48 and a 200-day moving average of $39.30. DraftKings Inc. has a one year low of $28.69 and a one year 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 (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%. On average, sell-side analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insider Activity

In other DraftKings news, insider Jason Robins sold 666,651 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now owns 3,336,195 shares in the company, valued at approximately $141,521,391.90. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $34.04, for a total value of $1,796,529.08. Following the transaction, the insider now owns 549,197 shares of the company’s stock, valued at $18,694,665.88. The trade was a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,681,079 shares of company stock valued at $112,941,617 in the last 90 days. 51.19% of the stock is owned by company insiders.

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.