DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider Jason Robins sold 200,000 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the sale, the insider now directly owns 2,678,613 shares of the company's stock, valued at approximately $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Jason Robins also recently made the following trade(s):
- On Thursday, November 21st, Jason Robins sold 3,151 shares of DraftKings stock. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21.
DraftKings Stock Performance
DKNG stock traded down $2.00 during mid-day trading on Tuesday, reaching $51.49. 20,441,515 shares of the stock traded hands, compared to its average volume of 9,781,917. The firm has a market capitalization of $25.11 billion, a PE ratio of -58.51, a P/E/G ratio of 3.18 and a beta of 1.93. The business has a 50-day moving average of $40.96 and a two-hundred day moving average of $39.03. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. 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 (NASDAQ:DKNG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, equities analysts predict that DraftKings Inc. will post -0.95 EPS for the current fiscal year.
Hedge Funds Weigh In On DraftKings
Institutional investors and hedge funds have recently bought and sold shares of the stock. Highview Capital Management LLC DE grew its position in DraftKings by 1.4% in the 4th quarter. Highview Capital Management LLC DE now owns 42,474 shares of the company's stock worth $1,580,000 after purchasing an additional 580 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in DraftKings during the fourth quarter worth about $1,584,000. Waverly Advisors LLC increased its stake in DraftKings by 2.4% during the fourth quarter. Waverly Advisors LLC now owns 42,681 shares of the company's stock valued at $1,588,000 after acquiring an additional 995 shares during the period. Whale Rock Capital Management LLC increased its stake in DraftKings by 9.2% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,971,886 shares of the company's stock valued at $184,954,000 after acquiring an additional 416,881 shares during the period. Finally, Tidal Investments LLC raised its holdings in DraftKings by 14.9% in the 4th quarter. Tidal Investments LLC now owns 20,553 shares of the company's stock valued at $765,000 after acquiring an additional 2,660 shares in the last quarter. Institutional investors own 37.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DKNG. Piper Sandler reaffirmed an "overweight" rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research note on Tuesday. Susquehanna decreased their target price on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price target on shares of DraftKings in a report on Friday. Morgan Stanley upped their target price on DraftKings from $47.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of DraftKings from $53.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.69.
View Our Latest Stock Analysis on DraftKings
About DraftKings
(
Get Free Report)
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.
Read More
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
