National Pension Service Has $27.31 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

National Pension Service boosted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 734,200 shares of the company’s stock after buying an additional 19,400 shares during the period. National Pension Service owned approximately 0.08% of DraftKings worth $27,312,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DKNG. Wealth Enhancement Advisory Services LLC raised its holdings in shares of DraftKings by 5.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 34,757 shares of the company’s stock valued at $1,362,000 after purchasing an additional 1,782 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of DraftKings by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 72,506 shares of the company’s stock valued at $2,842,000 after purchasing an additional 600 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of DraftKings by 5.4% in the third quarter. New York State Teachers Retirement System now owns 40,871 shares of the company’s stock valued at $1,602,000 after purchasing an additional 2,092 shares during the last quarter. US Bancorp DE raised its holdings in shares of DraftKings by 110.2% in the third quarter. US Bancorp DE now owns 859,715 shares of the company’s stock valued at $33,701,000 after purchasing an additional 450,773 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

DKNG has been the subject of several research reports. Cowen restated a “buy” rating on shares of DraftKings in a research report on Tuesday, February 4th. Piper Sandler restated an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Truist Financial increased their price target on shares of DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Argus set a $60.00 price target on shares of DraftKings in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.44.

Insider Activity at DraftKings

In related news, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the completion of the sale, the insider now directly owns 1,342,722 shares in the company, valued at $52,366,158. This represents a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,573,488 shares of company stock valued at $109,600,767 over the last three months. 51.19% of the stock is owned by corporate insiders.

DraftKings Trading Up 2.6 %

Shares of DraftKings stock opened at $43.86 on Friday. 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 $21.49 billion, a price-to-earnings ratio of -41.38, a PEG ratio of 1.43 and a beta of 1.93. 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 company’s 50-day moving average price is $41.78 and its 200-day moving average price is $39.79.

DraftKings (NASDAQ:DKNG) last announced 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 expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

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.