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

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the transaction, the insider now directly owns 2,678,613 shares of the company’s stock, valued at $120,537,585. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 21st, Jason Robins sold 3,151 shares of DraftKings stock. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21.

DraftKings Trading Up 15.2 %

Shares of NASDAQ DKNG opened at $53.49 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a market cap of $26.08 billion, a price-to-earnings ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93. The business has a fifty day simple moving average of $40.54 and a 200-day simple moving average of $38.77.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. Sell-side analysts predict that DraftKings Inc. will post -0.95 EPS for the current year.

Analyst Ratings Changes

DKNG has been the topic of a number of research reports. Susquehanna dropped their price target on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Macquarie raised their target price on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Barclays upped their price target on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of DraftKings in a research report on Friday. Finally, Benchmark upped their target price on shares of DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.64.

Hedge Funds Weigh In On DraftKings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of DraftKings during the fourth quarter valued at $28,000. Synergy Asset Management LLC purchased a new position in DraftKings during the 4th quarter valued at about $30,000. Synergy Investment Management LLC acquired a new position in shares of DraftKings in the 4th quarter valued at about $37,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings during the third quarter worth approximately $43,000. Finally, Westpac Banking Corp purchased a new position in DraftKings during the fourth quarter valued at approximately $44,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

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.