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

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.00, for a total value of $2,058,303.00. Following the completion of the transaction, the insider now directly owns 653,843 shares of the company’s stock, valued at approximately $25,499,877. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $37.62, for a total value of $1,985,470.74.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $36.91 on Wednesday. The company has a market capitalization of $18.08 billion, a PE ratio of -34.82, a PEG ratio of 1.43 and a beta of 2.07. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average price is $42.16 and its 200-day moving average price is $40.21. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61.

DraftKings (NASDAQ:DKNG) last posted 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 return on equity of 48.13% and a negative net margin of 10.64%. On average, equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

DKNG has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of DraftKings in a research report on Friday, February 14th. Argus set a $60.00 price target on shares of DraftKings in a report on Tuesday, February 18th. Susquehanna decreased their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Cowen reissued a “buy” rating on shares of DraftKings in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus boosted their target price on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and a consensus target price of $54.44.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently added to or reduced their stakes in the stock. 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 bought a new stake in shares of DraftKings in the 4th quarter worth approximately $276,328,000. FMR LLC lifted its stake in DraftKings by 110.6% in the fourth quarter. FMR LLC now owns 13,617,448 shares of the company’s stock valued at $506,569,000 after purchasing an additional 7,150,382 shares during the last quarter. Baillie Gifford & Co. bought a new position in DraftKings during the fourth quarter valued at $246,765,000. Finally, Eminence Capital LP purchased a new stake in DraftKings in the fourth quarter worth $65,255,000. Institutional investors own 37.70% of the company’s stock.

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.