DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by Capital World Investors

Capital World Investors grew its stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,830,985 shares of the company's stock after buying an additional 9,127 shares during the quarter. Capital World Investors owned approximately 0.99% of DraftKings worth $179,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DKNG. Principal Financial Group Inc. increased its stake in shares of DraftKings by 14.6% in the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company's stock valued at $9,203,000 after buying an additional 29,991 shares during the period. Vestmark Advisory Solutions Inc. increased its position in DraftKings by 27.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock valued at $4,766,000 after acquiring an additional 26,164 shares during the period. Bryn Mawr Capital Management LLC acquired a new position in shares of DraftKings during the fourth quarter worth $874,000. Highland Capital Management LLC bought a new stake in shares of DraftKings in the fourth quarter worth $1,086,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in DraftKings by 18.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,428 shares of the company's stock valued at $1,467,000 after purchasing an additional 6,059 shares during the period. Institutional investors own 37.70% of the company's stock.

Insider Buying and Selling at DraftKings

In other news, insider Matthew Kalish sold 587,585 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the transaction, the insider now owns 4,118,927 shares in the company, valued at $193,795,515.35. This trade represents a 12.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the transaction, the insider now directly owns 2,678,613 shares of the company's stock, 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 have sold a total of 2,628,302 shares of company stock valued at $111,145,088 over the last ninety days. Corporate insiders own 51.19% of the company's stock.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on DraftKings from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $60.00 price target on DraftKings and gave the stock a "buy" rating in a report on Sunday, April 13th. Argus set a $60.00 price target on DraftKings in a research note on Tuesday, February 18th. Cfra Research raised shares of DraftKings to a "moderate buy" rating in a research report on Monday, April 14th. Finally, Piper Sandler reissued an "overweight" rating and issued a $60.00 price target (up from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.74.

DraftKings Stock Performance

DraftKings stock traded down $0.39 during mid-day trading on Friday, hitting $33.79. The company had a trading volume of 10,412,029 shares, compared to its average volume of 10,881,433. 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 company has a market capitalization of $29.84 billion, a price-to-earnings ratio of -31.88, a P/E/G ratio of 1.43 and a beta of 2.16. The company's fifty day moving average is $37.91 and its 200-day moving average is $39.55. 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 posted its 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%. Equities research analysts predict that DraftKings Inc. will post 0.64 EPS 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.