UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 35,466 Shares of DraftKings Inc. (NASDAQ:DKNG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,480,549 shares of the company's stock after purchasing an additional 35,466 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of DraftKings worth $58,038,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DKNG. Alta Advisers Ltd bought a new position in shares of DraftKings in the second quarter valued at $38,000. Redwood Wealth Management Group LLC acquired a new position in DraftKings in the 2nd quarter valued at approximately $39,000. St. Johns Investment Management Company LLC acquired a new position in DraftKings in the 2nd quarter valued at approximately $46,000. V Square Quantitative Management LLC acquired a new position in shares of DraftKings during the 3rd quarter worth $46,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of DraftKings during the 2nd quarter worth $47,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DraftKings

In related news, insider Jason Robins sold 3,151 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the transaction, the insider now directly owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the transaction, the insider now owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 735,246 shares of company stock valued at $29,902,158 over the last 90 days. 48.94% of the stock is owned by corporate insiders.

DraftKings Trading Up 1.2 %

DraftKings stock traded up $0.52 during midday trading on Wednesday, hitting $44.49. 8,274,031 shares of the stock were exchanged, compared to its average volume of 10,214,248. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57. The company has a fifty day simple moving average of $39.54 and a two-hundred day simple moving average of $37.85. The stock has a market capitalization of $39.18 billion, a PE ratio of -49.97 and a beta of 1.87.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of DraftKings from $45.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Morgan Stanley increased their price target on shares of DraftKings from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Susquehanna increased their price target on shares of DraftKings from $48.00 to $50.00 and gave the company a "positive" rating in a report on Monday, October 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of DraftKings in a report on Friday, November 8th. Finally, BNP Paribas raised shares of DraftKings from an "underperform" rating to a "neutral" rating and set a $35.00 price objective for the company in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.04.

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.