DraftKings Inc. (NASDAQ:DKNG) Stock Holdings Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 57.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,454 shares of the company's stock after selling 29,765 shares during the quarter. Gateway Investment Advisers LLC's holdings in DraftKings were worth $835,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP grew its holdings in DraftKings by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 9,410,431 shares of the company's stock valued at $359,196,000 after purchasing an additional 3,269,932 shares in the last quarter. Geode Capital Management LLC boosted its position in DraftKings by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company's stock valued at $312,361,000 after buying an additional 284,131 shares during the last quarter. FMR LLC grew its stake in shares of DraftKings by 14.7% during the third quarter. FMR LLC now owns 6,467,066 shares of the company's stock valued at $253,509,000 after acquiring an additional 826,626 shares in the last quarter. Fred Alger Management LLC increased its position in shares of DraftKings by 46.6% during the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company's stock worth $182,039,000 after acquiring an additional 1,476,003 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of DraftKings by 29.0% in the second quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company's stock worth $144,905,000 after acquiring an additional 870,789 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company's stock.

Insider Transactions at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the transaction, the insider now owns 541,884 shares in the company, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of the 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 sale, the insider now owns 68,654 shares of the company's stock, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,052,183 shares of company stock valued at $41,303,025. Corporate insiders own 48.94% of the company's stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of recent analyst reports. BMO Capital Markets restated an "outperform" rating and set a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of DraftKings in a research report on Tuesday, January 7th. Macquarie upped their price target on shares of DraftKings from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Monday, November 11th. JMP Securities decreased their price objective on shares of DraftKings from $52.00 to $50.00 and set a "market outperform" rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of DraftKings from $47.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.08.

DraftKings Stock Performance

Shares of NASDAQ:DKNG traded down $0.39 on Friday, hitting $39.29. The company's stock had a trading volume of 7,138,308 shares, compared to its average volume of 6,983,014. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of -44.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.90. The stock's 50-day moving average is $40.65 and its two-hundred day moving average is $37.97. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. On average, equities research analysts forecast that DraftKings Inc. will post -0.83 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.