DraftKings Inc. $DKNG Shares Purchased by Atwood & Palmer Inc.

Atwood & Palmer Inc. increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 540,662 shares of the company’s stock after purchasing an additional 13,800 shares during the quarter. Atwood & Palmer Inc. owned 0.06% of DraftKings worth $23,189,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OMERS ADMINISTRATION Corp boosted its holdings in DraftKings by 21.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,735 shares of the company’s stock valued at $660,000 after acquiring an additional 3,088 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of DraftKings by 30.2% in the fourth quarter. Quantinno Capital Management LP now owns 21,991 shares of the company’s stock worth $818,000 after acquiring an additional 5,105 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of DraftKings in the fourth quarter worth about $28,000. Raiffeisen Bank International AG acquired a new position in shares of DraftKings in the fourth quarter worth about $25,000. Finally, Rafferty Asset Management LLC lifted its stake in shares of DraftKings by 20.2% in the fourth quarter. Rafferty Asset Management LLC now owns 30,875 shares of the company’s stock worth $1,149,000 after acquiring an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the subject of several research analyst reports. Susquehanna reissued a “positive” rating and issued a $64.00 price objective on shares of DraftKings in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft set a $47.00 price objective on DraftKings and gave the company a “hold” rating in a report on Friday, August 8th. JPMorgan Chase & Co. started coverage on DraftKings in a report on Monday, June 23rd. They issued an “overweight” rating and a $50.00 price objective for the company. JMP Securities lowered their target price on DraftKings from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Thursday, June 5th. Finally, Stifel Nicolaus lowered their target price on DraftKings from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Twenty-four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.12.

DraftKings Stock Performance

Shares of DKNG stock opened at $43.98 on Monday. DraftKings Inc. has a 12-month low of $29.64 and a 12-month high of $53.61. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of -67.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.73. The business has a 50 day simple moving average of $45.03 and a 200 day simple moving average of $39.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.34 and a quick ratio of 1.34.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Transactions at DraftKings

In other DraftKings news, Director Ryan R. Moore sold 76,390 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the completion of the sale, the director directly owned 402 shares in the company, valued at $18,459.84. This represents a 99.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jocelyn Moore sold 4,861 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $43.21, for a total value of $210,043.81. Following the completion of the sale, the director owned 1,461 shares of the company’s stock, valued at $63,129.81. This trade represents a 76.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 816,662 shares of company stock valued at $35,460,274 over the last three months. 47.08% of the stock is owned by company insiders.

DraftKings 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.