DraftKings Inc. (NASDAQ:DKNG) Holdings Lifted by Swiss National Bank

Swiss National Bank boosted its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,294,564 shares of the company's stock after purchasing an additional 27,000 shares during the quarter. Swiss National Bank owned about 0.15% of DraftKings worth $50,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DKNG. Global Retirement Partners LLC increased its stake in shares of DraftKings by 0.6% during the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company's stock valued at $1,845,000 after acquiring an additional 273 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of DraftKings by 21.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company's stock valued at $63,000 after acquiring an additional 286 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock valued at $47,000 after acquiring an additional 320 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of DraftKings by 32.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company's stock valued at $51,000 after acquiring an additional 325 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its stake in shares of DraftKings by 18.3% during the 2nd quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company's stock valued at $81,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul Liberman sold 88,441 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the transaction, the insider now owns 2,498,483 shares of the company's stock, valued at approximately $89,045,934.12. This represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 820,536 shares of company stock valued at $32,916,465 over the last three months. Company insiders own 48.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $48.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, September 26th. Susquehanna boosted their target price on DraftKings from $48.00 to $50.00 and gave the stock a "positive" rating in a report on Monday, October 7th. Barclays boosted their target price on DraftKings from $45.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Mizuho boosted their target price on DraftKings from $54.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. Finally, JMP Securities boosted their target price on DraftKings from $51.00 to $52.00 and gave the stock a "market outperform" rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.85.

DraftKings Stock Performance

DKNG stock opened at $43.80 on Thursday. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock's 50 day simple moving average is $38.71 and its 200 day simple moving average is $37.93. The firm has a market cap of $38.57 billion, a P/E ratio of -49.77 and a beta of 1.82.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. As a group, equities research analysts predict that DraftKings Inc. will post -0.73 EPS for the current year.

DraftKings 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.