Swiss National Bank Has $45.92 Million Position in DraftKings Inc. (NASDAQ:DKNG)

Swiss National Bank cut its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,234,464 shares of the company's stock after selling 60,100 shares during the period. Swiss National Bank owned about 0.25% of DraftKings worth $45,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of DraftKings during the 4th quarter worth $30,000. Synergy Investment Management LLC purchased a new stake in shares of DraftKings during the 4th quarter worth $37,000. Delos Wealth Advisors LLC purchased a new stake in shares of DraftKings during the 3rd quarter worth $43,000. Finally, YANKCOM Partnership purchased a new stake in shares of DraftKings during the 4th quarter worth $48,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DraftKings news, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the transaction, the chief financial officer now directly owns 179,435 shares of the company's stock, valued at $7,611,632.70. The trade was a 46.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction on Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the completion of the transaction, the insider now directly owns 706,620 shares of the company's stock, valued at $26,583,044.40. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,663,966 shares of company stock valued at $112,550,362. Insiders own 51.19% of the company's stock.

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DraftKings Stock Performance

Shares of DKNG traded down $0.10 during mid-day trading on Thursday, reaching $38.44. The company's stock had a trading volume of 8,948,548 shares, compared to its average volume of 9,617,566. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The stock has a market cap of $18.83 billion, a P/E ratio of -36.26, a PEG ratio of 1.43 and a beta of 2.07. The business has a 50-day simple moving average of $42.17 and a two-hundred day simple moving average of $40.20. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share (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, equities research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DKNG. Argus set a $60.00 price target on DraftKings in a report on Tuesday, February 18th. Susquehanna dropped their price target on DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Needham & Company LLC set a $65.00 price target on DraftKings in a research note on Tuesday, February 18th. Canaccord Genuity Group upped their price target on DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Barclays increased their target price on DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, DraftKings currently has an average rating of "Moderate Buy" and a consensus price target of $54.44.

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.