Thrivent Financial for Lutherans Has $314,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

Thrivent Financial for Lutherans cut its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 96.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,010 shares of the company's stock after selling 199,202 shares during the period. Thrivent Financial for Lutherans' holdings in DraftKings were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DKNG. Mizuho Securities USA LLC acquired a new position in shares of DraftKings in the third quarter valued at approximately $28,028,000. Janney Montgomery Scott LLC boosted its stake in DraftKings by 51.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 378,227 shares of the company's stock worth $14,826,000 after purchasing an additional 128,676 shares during the period. Principal Financial Group Inc. increased its holdings in DraftKings by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company's stock worth $9,203,000 after purchasing an additional 29,991 shares in the last quarter. Romano Brothers AND Company acquired a new stake in shares of DraftKings in the 3rd quarter valued at about $1,181,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of DraftKings in the second quarter valued at about $1,530,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays increased their price objective on DraftKings from $45.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Benchmark reiterated a "buy" rating and issued a $44.00 price objective on shares of DraftKings in a report on Monday, October 7th. Truist Financial restated a "buy" rating and set a $50.00 target price on shares of DraftKings in a report on Wednesday, August 14th. UBS Group lifted their price target on shares of DraftKings from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, Susquehanna increased their price objective on shares of DraftKings from $48.00 to $50.00 and gave the stock a "positive" rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, DraftKings presently has an average rating of "Moderate Buy" and an average target price of $51.04.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 3,151 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now directly owns 2,631,033 shares of the company's stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Liberman sold 88,441 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $36.41, for a total transaction of $3,220,136.81. Following the sale, the insider now directly owns 1,923,483 shares of the company's stock, valued at approximately $70,034,016.03. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 735,246 shares of company stock worth $29,902,158 in the last quarter. Corporate insiders own 51.19% of the company's stock.

DraftKings Stock Performance

DKNG traded down $0.04 during trading on Friday, hitting $44.80. The stock had a trading volume of 8,166,223 shares, compared to its average volume of 10,199,686. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $39.45 billion, a price-to-earnings ratio of -50.95 and a beta of 1.87. The company has a 50 day moving average price of $39.69 and a 200-day moving average price of $37.95. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. As a group, research analysts predict that DraftKings Inc. will post -0.79 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.