DraftKings Inc. (NASDAQ:DKNG - Get Free Report) CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the transaction, the chief financial officer now owns 179,435 shares of the company's stock, valued at $7,611,632.70. This trade represents a 46.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
DraftKings Price Performance
NASDAQ:DKNG traded up $1.12 on Friday, hitting $43.86. The company had a trading volume of 6,212,866 shares, compared to its average volume of 10,440,278. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. 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 stock has a market capitalization 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 firm has a 50 day moving average of $41.78 and a two-hundred day moving average of $39.79.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) 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%. On average, research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on DKNG shares. TD Cowen dropped their price target 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. Morgan Stanley upped their target price on shares of DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Wells Fargo & Company increased their target price on DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Stifel Nicolaus upped their price objective on shares of DraftKings from $48.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Cowen restated a "buy" rating on shares of DraftKings in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.44.
Check Out Our Latest Report on DraftKings
Institutional Trading of DraftKings
A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in DraftKings by 4,495.7% in the 3rd quarter. International Assets Investment Management LLC now owns 272,479 shares of the company's stock valued at $10,681,000 after buying an additional 266,550 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of DraftKings by 264.4% during the third quarter. Assenagon Asset Management S.A. now owns 133,734 shares of the company's stock valued at $5,242,000 after acquiring an additional 97,031 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of DraftKings by 15.8% during the third quarter. Ballentine Partners LLC now owns 7,589 shares of the company's stock valued at $297,000 after acquiring an additional 1,035 shares during the last quarter. Forsta AP Fonden lifted its holdings in shares of DraftKings by 15.8% during the third quarter. Forsta AP Fonden now owns 97,500 shares of the company's stock worth $3,822,000 after purchasing an additional 13,300 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake 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 worth $1,362,000 after purchasing an additional 1,782 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.
About DraftKings
(
Get Free Report)
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.
See Also
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
