44,879 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Achmea Investment Management B.V.

Achmea Investment Management B.V. bought a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 44,879 shares of the company's stock, valued at approximately $1,669,000.

Several other institutional investors have also added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co boosted its stake in shares of DraftKings by 3.7% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company's stock worth $271,000 after buying an additional 249 shares during the last quarter. Claro Advisors LLC boosted its stake in shares of DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company's stock worth $673,000 after buying an additional 264 shares during the last quarter. Allworth Financial LP boosted its stake in shares of DraftKings by 8.0% in the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company's stock worth $150,000 after buying an additional 271 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of DraftKings by 0.6% in the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company's stock worth $1,678,000 after buying an additional 288 shares during the last quarter. Finally, Nvwm LLC boosted its stake in shares of DraftKings by 1.6% in the 4th quarter. Nvwm LLC now owns 19,343 shares of the company's stock worth $720,000 after buying an additional 312 shares during the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Morgan Stanley raised their price target on DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Stifel Nicolaus lifted 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. Piper Sandler reiterated an "overweight" rating and set a $60.00 target price (up from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Finally, Truist Financial lifted their target price on DraftKings from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $54.44.

Insider Activity at DraftKings

In related news, CFO Alan Wayne Ellingson sold 158,661 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the sale, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. The trade was a 46.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the completion of the sale, the insider now owns 706,620 shares of the company's stock, valued at $26,583,044.40. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,663,966 shares of company stock worth $112,550,362. Company insiders own 51.19% of the company's stock.

DraftKings Trading Up 4.4 %

Shares of NASDAQ:DKNG traded up $1.63 during trading hours on Wednesday, hitting $38.54. 9,319,118 shares of the company's stock traded hands, compared to its average volume of 9,618,364. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The business has a fifty day moving average price of $42.16 and a 200-day moving average price of $40.21. The firm has a market capitalization of $18.88 billion, a P/E ratio of -36.36, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. 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 announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) 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%. Equities analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

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.