DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 666,651 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 666,651 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $28,279,335.42. Following the completion of the sale, the insider now owns 3,336,195 shares of the company’s stock, valued at $141,521,391.90. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jason Robins also recently made the following trade(s):

• On Wednesday, February 12th, Jason Robins sold 200,000 shares of DraftKings stock. The stock was sold at an average price of $45.00, for a total transaction of $9,000,000.00.

DraftKings Stock Down 1.4 %

NASDAQ:DKNG opened at $42.74 on Friday. The firm has a market capitalization of $20.94 billion, a P/E ratio of -40.32, a PEG ratio of 1.43 and a beta of 1.93. The company’s fifty day moving average price is $41.71 and its 200-day moving average price is $39.63. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share 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 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DKNG shares. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research report on Friday, February 14th. Canaccord Genuity Group boosted their target price on shares of DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Truist Financial raised their price target on shares of DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Susquehanna lowered their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.44.

Institutional Investors Weigh In On DraftKings

Several hedge funds have recently bought and sold shares of DKNG. Raiffeisen Bank International AG purchased a new position in shares of DraftKings during the 4th quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new position in DraftKings during the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in DraftKings in the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter valued at approximately $30,000. Finally, Synergy Investment Management LLC acquired a new stake in DraftKings in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 37.70% 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.