DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 4,495.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,479 shares of the company's stock after acquiring an additional 266,550 shares during the period. International Assets Investment Management LLC's holdings in DraftKings were worth $10,681,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. HB Wealth Management LLC acquired a new stake in shares of DraftKings in the first quarter valued at approximately $282,000. Private Advisor Group LLC grew its position in DraftKings by 40.4% during the 1st quarter. Private Advisor Group LLC now owns 116,240 shares of the company's stock worth $5,278,000 after purchasing an additional 33,462 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in DraftKings in the first quarter valued at $205,000. Janney Montgomery Scott LLC raised its holdings in shares of DraftKings by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 235,305 shares of the company's stock valued at $10,685,000 after buying an additional 10,698 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its stake in shares of DraftKings by 64.8% during the first quarter. Capstone Investment Advisors LLC now owns 42,489 shares of the company's stock worth $1,929,000 after buying an additional 16,713 shares during the period. Institutional investors and hedge funds own 37.70% of the company's stock.

Insiders Place Their Bets

In other news, insider Jason Robins sold 200,000 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.72, for a total transaction of $6,144,000.00. Following the sale, the insider now owns 2,699,815 shares in the company, valued at $82,938,316.80. 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 is available through this link. In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $30.72, for a total transaction of $6,144,000.00. Following the transaction, the insider now directly owns 2,699,815 shares in the company, valued at $82,938,316.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Liberman sold 643,654 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the completion of the sale, the insider now owns 137,308 shares of the company's stock, valued at approximately $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,220,536 shares of company stock valued at $46,110,465 in the last quarter. 48.94% of the stock is currently owned by company insiders.

DraftKings Trading Down 4.2 %

NASDAQ:DKNG traded down $1.55 on Thursday, reaching $35.32. The stock had a trading volume of 7,206,147 shares, compared to its average volume of 10,237,701. The company has a market cap of $31.03 billion, a price-to-earnings ratio of -39.69 and a beta of 1.81. DraftKings Inc. has a 12-month low of $26.42 and a 12-month high of $49.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.11 and a quick ratio of 1.11. The firm's fifty day moving average is $37.35 and its two-hundred day moving average is $38.15.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.13. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The company's quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Equities analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on DKNG. Oppenheimer reduced their price objective on DraftKings from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Susquehanna upped their price target on DraftKings from $48.00 to $50.00 and gave the stock a "positive" rating in a research note on Monday, October 7th. Mizuho lifted their price objective on shares of DraftKings from $54.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Bank of America dropped their price objective on shares of DraftKings from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their target price on shares of DraftKings from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.22.

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.