DraftKings Inc. (NASDAQ:DKNG) Director Sells $143,640.00 in Stock

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) Director Jocelyn Moore sold 3,420 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the transaction, the director now directly owns 1,612 shares of the company's stock, valued at $67,704. This trade represents a 67.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DraftKings Stock Down 0.0 %

Shares of NASDAQ:DKNG traded down $0.02 during mid-day trading on Wednesday, reaching $38.64. 7,746,379 shares of the stock were exchanged, compared to its average volume of 9,625,370. The stock's 50 day simple moving average is $42.09 and its 200-day simple moving average is $40.10. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The company has a market cap of $18.93 billion, a P/E ratio of -36.45, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 48.13% and a negative net margin of 10.64%. As a group, equities research analysts predict that DraftKings Inc. will post 0.64 EPS for the current year.

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Wall Street Analyst Weigh In

DKNG has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Susquehanna cut their target price on shares of DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. TD Cowen decreased their price target on DraftKings from $55.00 to $51.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Finally, BTIG Research set a $59.00 price objective on DraftKings in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat, DraftKings has a consensus rating of "Moderate Buy" and a consensus target price of $54.44.

Hedge Funds Weigh In On DraftKings

Several hedge funds and other institutional investors have recently made changes to their positions in DKNG. Raiffeisen Bank International AG acquired a new position in shares of DraftKings during the 4th quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of DraftKings during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in DraftKings in the 4th quarter valued at about $30,000. Finally, Synergy Investment Management LLC bought a new position in DraftKings in the 4th quarter valued at about $37,000. 37.70% of the stock is owned by institutional investors.

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.