R Stanton Dodge Sells 52,777 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.00, for a total value of $2,058,303.00. Following the transaction, the insider now directly owns 653,843 shares of the company's stock, valued at $25,499,877. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

R Stanton Dodge also recently made the following trade(s):

• On Friday, March 14th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74.

DraftKings Trading Up 2.7 %

NASDAQ DKNG traded up $1.05 during trading on Friday, hitting $39.49. The stock had a trading volume of 9,569,075 shares, compared to its average volume of 9,567,647. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of -37.25, a P/E/G ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The stock has a 50 day simple moving average of $42.17 and a 200 day simple moving average of $40.27.

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DraftKings (NASDAQ:DKNG - Get Free Report) last issued 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%. Sell-side analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on DKNG. Morgan Stanley increased their target price on DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Truist Financial increased their target price on DraftKings from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Stifel Nicolaus increased their price target on DraftKings from $48.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Argus set a $60.00 price target on DraftKings in a report on Tuesday, February 18th. Finally, Cowen reissued a "buy" rating on shares of DraftKings in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.44.

Institutional Investors Weigh In On DraftKings

Large investors have recently made changes to their positions in the stock. 111 Capital acquired a new position in DraftKings during the fourth quarter valued at $438,000. Thoma Capital Management LLC acquired a new position in DraftKings during the fourth quarter valued at $902,000. Siemens Fonds Invest GmbH acquired a new position in DraftKings during the fourth quarter valued at $665,000. Total Wealth Planning & Management Inc. acquired a new position in shares of DraftKings in the fourth quarter worth about $243,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of DraftKings in the fourth quarter worth about $1,728,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

About DraftKings

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.