Baillie Gifford & Co. acquired a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,633,458 shares of the company's stock, valued at approximately $246,765,000. Baillie Gifford & Co. owned approximately 0.75% of DraftKings at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC acquired a new stake in shares of DraftKings in the 4th quarter worth $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter valued at about $30,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings during the 3rd quarter valued at about $43,000. V Square Quantitative Management LLC purchased a new position in shares of DraftKings during the 3rd quarter valued at about $46,000. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock valued at $47,000 after buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.
DraftKings Stock Down 2.6 %
NASDAQ:DKNG traded down $1.34 during midday trading on Thursday, reaching $49.44. The company had a trading volume of 12,208,217 shares, compared to its average volume of 10,004,741. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 2.06 and a beta of 1.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock's fifty day simple moving average is $41.14 and its 200-day simple moving average is $39.11. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61.
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 return on equity of 47.48% and a negative net margin of 10.64%. On average, sell-side analysts anticipate that DraftKings Inc. will post 0.46 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
DKNG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on DraftKings from $53.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday. Barclays lifted their price objective on DraftKings from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday. TD Cowen lowered their target price on DraftKings from $55.00 to $51.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Macquarie lifted their price target on DraftKings from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Finally, Benchmark upped their price objective on DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, DraftKings has an average rating of "Moderate Buy" and a consensus price target of $53.69.
Get Our Latest Research Report on DraftKings
Insider Activity at DraftKings
In related news, insider Paul Liberman sold 532,095 shares of the business's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the sale, the insider now directly owns 68,654 shares of the company's stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the transaction, the insider now owns 2,678,613 shares in the company, valued at approximately $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,160,591 shares of company stock valued at $46,945,158 over the last ninety days. Insiders own 51.19% of the company's stock.
About DraftKings
(
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.
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