Future Fund LLC Purchases New Holdings in DraftKings Inc. (NASDAQ:DKNG)

Future Fund LLC purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,610 shares of the company's stock, valued at approximately $736,000. DraftKings accounts for 2.2% of Future Fund LLC's holdings, making the stock its 23rd biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of DraftKings in the 1st quarter valued at about $31,000. Alta Advisers Ltd purchased a new position in shares of DraftKings during the 2nd quarter valued at approximately $38,000. Redwood Wealth Management Group LLC acquired a new stake in DraftKings in the 2nd quarter valued at $39,000. St. Johns Investment Management Company LLC acquired a new position in DraftKings during the second quarter worth $46,000. Finally, V Square Quantitative Management LLC purchased a new position in DraftKings during the third quarter valued at $46,000. Hedge funds and other institutional investors own 37.70% of the company's stock.

Insider Transactions at DraftKings

In other DraftKings news, insider Paul Liberman sold 88,441 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the sale, the insider now owns 2,498,483 shares of the company's stock, valued at approximately $89,045,934.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DraftKings news, insider Jason Robins sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total value of $7,050,000.00. Following the completion of the sale, the insider now owns 2,678,082 shares in the company, valued at approximately $94,402,390.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 88,441 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.64, for a total transaction of $3,152,037.24. Following the transaction, the insider now owns 2,498,483 shares in the company, valued at approximately $89,045,934.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,020,536 shares of company stock valued at $39,966,465. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Stock Performance

Shares of DKNG stock traded down $0.16 during trading hours on Wednesday, reaching $41.55. 5,430,318 shares of the stock were exchanged, compared to its average volume of 10,379,962. The business's fifty day moving average is $38.00 and its two-hundred day moving average is $37.91. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The company has a quick ratio of 1.11, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.18). The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. On average, sell-side analysts anticipate that DraftKings Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DKNG shares. Susquehanna increased their target price on DraftKings from $48.00 to $50.00 and gave the company a "positive" rating in a report on Monday, October 7th. UBS Group upped their price target on DraftKings from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Oppenheimer dropped their target price on DraftKings from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Monday, August 5th. JMP Securities boosted their price target on shares of DraftKings from $51.00 to $52.00 and gave the company a "market outperform" rating in a research report on Monday. Finally, Benchmark restated a "buy" rating and set a $44.00 price objective on shares of DraftKings in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.64.

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.