OneDigital Investment Advisors LLC Has $310,000 Stock Position in DraftKings Inc. (NASDAQ:DKNG)

OneDigital Investment Advisors LLC decreased its stake in DraftKings Inc. (NASDAQ:DKNG) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,335 shares of the company’s stock after selling 1,551 shares during the period. OneDigital Investment Advisors LLC’s holdings in DraftKings were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DKNG. Norges Bank acquired a new stake in DraftKings during the fourth quarter worth $276,328,000. FMR LLC boosted its stake in DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company’s stock worth $506,569,000 after buying an additional 7,150,382 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in DraftKings during the fourth quarter worth $246,765,000. Contrarius Group Holdings Ltd acquired a new stake in DraftKings during the fourth quarter worth $58,397,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in DraftKings by 18.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,797,507 shares of the company’s stock worth $252,867,000 after buying an additional 1,036,763 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Down 1.5 %

Shares of NASDAQ:DKNG opened at $33.28 on Tuesday. The firm has a market cap of $29.39 billion, a P/E ratio of -31.40, a P/E/G ratio of 1.43 and a beta of 2.16. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The business has a fifty day simple moving average of $37.21 and a 200 day simple moving average of $39.51.

DraftKings (NASDAQ:DKNG) last announced 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%. Analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on DKNG. Cowen reaffirmed a “buy” rating on shares of DraftKings in a report on Thursday. Guggenheim decreased their price objective on shares of DraftKings from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. TD Securities decreased their price objective on shares of DraftKings from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. TD Cowen decreased their price objective on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company upped 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. Three investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.48.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $32.28, for a total value of $1,703,641.56. Following the completion of the sale, the insider now directly owns 601,520 shares of the company’s stock, valued at approximately $19,417,065.60. This represents a 8.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Liberman sold 643,654 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total value of $25,070,323.30. Following the completion of the sale, the insider now directly owns 682,764 shares of the company’s stock, valued at $26,593,657.80. The trade was a 48.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,628,302 shares of company stock worth $111,145,088 in the last ninety days. Corporate insiders own 51.19% of the company’s stock.

DraftKings Company 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.