SBI Securities Co. Ltd. Invests $250,000 in DraftKings Inc. (NASDAQ:DKNG)

SBI Securities Co. Ltd. bought a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,718 shares of the company's stock, valued at approximately $250,000.

Several other large investors have also made changes to their positions in the company. Pine Valley Investments Ltd Liability Co grew its stake in shares of DraftKings by 3.7% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company's stock valued at $271,000 after buying an additional 249 shares in the last quarter. Claro Advisors LLC grew its stake in shares of DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company's stock valued at $673,000 after buying an additional 264 shares in the last quarter. Allworth Financial LP grew its stake in shares of DraftKings by 8.0% in the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company's stock valued at $150,000 after buying an additional 271 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of DraftKings by 0.6% in the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company's stock valued at $1,678,000 after buying an additional 288 shares in the last quarter. Finally, Nvwm LLC grew its stake in shares of DraftKings by 1.6% in the 4th quarter. Nvwm LLC now owns 19,343 shares of the company's stock valued at $720,000 after buying an additional 312 shares in the last quarter. Institutional investors own 37.70% of the company's stock.

DraftKings Stock Performance

Shares of NASDAQ DKNG traded down $0.69 during trading hours on Friday, reaching $39.41. The stock had a trading volume of 20,415,107 shares, compared to its average volume of 9,584,424. The business's fifty day moving average is $42.06 and its two-hundred day moving average is $40.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The company has a market cap of $19.31 billion, a price-to-earnings ratio of -37.18, a PEG ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on DKNG shares. Canaccord Genuity Group boosted their target price on DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Susquehanna reduced their target price on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Needham & Company LLC set a $65.00 target price on DraftKings in a report on Tuesday, February 18th. Stifel Nicolaus boosted their target price on DraftKings from $48.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, Argus set a $60.00 target price on DraftKings in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.44.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the sale, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. This represents a 88.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the sale, the chief financial officer now owns 179,435 shares in the company, valued at $7,611,632.70. This trade represents a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,783,488 shares of company stock worth $118,128,867 over the last three months. Company insiders own 51.19% of the company's stock.

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.