3,525 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Whipplewood Advisors LLC

Whipplewood Advisors LLC bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,525 shares of the company’s stock, valued at approximately $131,000.

A number of other large investors have also bought and sold shares of the business. Pine Valley Investments Ltd Liability Co increased its stake in DraftKings by 3.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after purchasing an additional 249 shares in the last quarter. Claro Advisors LLC increased its stake in DraftKings by 1.5% during the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP increased its stake in DraftKings by 8.0% during the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock worth $150,000 after purchasing an additional 271 shares in the last quarter. Westside Investment Management Inc. boosted its position in DraftKings by 0.6% during the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock worth $1,678,000 after acquiring an additional 288 shares during the last quarter. Finally, Nvwm LLC boosted its position in DraftKings by 1.6% during the 4th quarter. Nvwm LLC now owns 19,343 shares of the company’s stock worth $720,000 after acquiring an additional 312 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

DraftKings Stock Down 1.4 %

DKNG stock opened at $42.74 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of -40.32, a PEG ratio of 1.43 and a beta of 1.93. The business’s fifty day moving average price is $41.71 and its two-hundred day moving average price is $39.63. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. On average, equities analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Alan Wayne Ellingson sold 158,661 shares of the firm’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 $6,730,399.62. Following the transaction, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares in the company, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,573,488 shares of company stock worth $109,600,767 in the last 90 days. Company insiders own 48.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DKNG shares. Wells Fargo & Company upped their price target on DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of DraftKings in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. BTIG Research set a $59.00 price target on DraftKings in a research report on Monday, February 3rd. Finally, TD Cowen reduced their price target on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Three 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.44.

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.