Transatlantique Private Wealth LLC Invests $620,000 in DraftKings Inc. (NASDAQ:DKNG)

Transatlantique Private Wealth LLC acquired a new stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,676 shares of the company's stock, valued at approximately $620,000.

Other large investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in DraftKings during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC purchased a new stake in shares of DraftKings in the 4th quarter valued at $37,000. Westpac Banking Corp purchased a new position in shares of DraftKings during the 4th quarter valued at about $44,000. Finally, YANKCOM Partnership purchased a new stake in DraftKings in the 4th quarter worth approximately $48,000. Institutional investors own 37.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DKNG shares. BTIG Research cut their target price on shares of DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price target on shares of DraftKings in a report on Monday, April 7th. Cowen reaffirmed a "buy" rating on shares of DraftKings in a research note on Tuesday, February 4th. Truist Financial decreased their target price on DraftKings from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, TD Cowen lowered their target price on shares of DraftKings from $55.00 to $51.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

Insider Activity

In other DraftKings news, insider Paul Liberman sold 643,654 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the sale, the insider now owns 682,764 shares of the company's stock, valued at $26,593,657.80. This trade represents a 48.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.00, for a total value of $2,058,303.00. Following the transaction, the insider now owns 653,843 shares in the company, valued at approximately $25,499,877. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,575,525 shares of company stock worth $109,441,446 in the last three months. Corporate insiders own 51.19% of the company's stock.

DraftKings Stock Up 1.7 %

DKNG stock traded up $0.58 during trading hours on Wednesday, reaching $34.05. 9,846,579 shares of the stock were exchanged, compared to its average volume of 9,781,002. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The firm's 50-day moving average is $38.69 and its 200-day moving average is $39.61. The company has a market cap of $30.07 billion, a price-to-earnings ratio of -32.12, a PEG ratio of 1.43 and a beta of 2.16. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly 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 return on equity of 48.13% and a negative net margin of 10.64%. On average, equities research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

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.