R Stanton Dodge Sells 52,777 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $37.62, for a total transaction of $1,985,470.74. Following the sale, the insider now directly owns 706,620 shares of the company's stock, valued at approximately $26,583,044.40. This represents a 6.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

R Stanton Dodge also recently made the following trade(s):

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $39.00, for a total transaction of $2,058,303.00.

DraftKings Price Performance

DKNG traded up $1.05 during midday trading on Friday, reaching $39.49. 9,569,075 shares of the company's stock were exchanged, compared to its average volume of 9,567,647. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market capitalization of $19.35 billion, a PE ratio of -37.25, a P/E/G ratio of 1.43 and a beta of 2.07. The business's 50-day moving average price is $42.17 and its 200 day moving average price is $40.27. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its 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 48.13% and a negative net margin of 10.64%. As a group, equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

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Hedge Funds Weigh In On DraftKings

Several institutional investors and hedge funds have recently modified their holdings of DKNG. Janus Henderson Group PLC lifted its stake in shares of DraftKings by 31,346.8% during the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock valued at $349,005,000 after buying an additional 9,352,019 shares during the period. Norges Bank acquired a new position in DraftKings during the fourth quarter worth approximately $276,328,000. FMR LLC increased its position in DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after purchasing an additional 7,150,382 shares during the last quarter. Baillie Gifford & Co. acquired a new position in DraftKings during the fourth quarter worth approximately $246,765,000. Finally, Eminence Capital LP acquired a new position in DraftKings during the fourth quarter worth approximately $65,255,000. Hedge funds and other institutional investors own 37.70% of the company's stock.

Analyst Ratings Changes

DKNG has been the topic of a number of research reports. BTIG Research set a $59.00 target price on shares of DraftKings in a report on Monday, February 3rd. Barclays raised their price objective on shares of DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Benchmark raised their price objective on shares of DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a report on Monday, March 10th. Wells Fargo & Company increased their target price on shares of DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group increased their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 14th. 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, DraftKings presently has an average rating of "Moderate Buy" and an average target price of $54.44.

DraftKings Company 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.