DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Stephens Inc. AR

Stephens Inc. AR decreased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 7.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,678 shares of the company’s stock after selling 2,600 shares during the quarter. Stephens Inc. AR’s holdings in DraftKings were worth $1,141,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC lifted its position in DraftKings by 46.6% during the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock worth $182,039,000 after acquiring an additional 1,476,003 shares during the period. FMR LLC raised its stake in shares of DraftKings by 14.7% during the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after purchasing an additional 826,626 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in DraftKings in the 3rd quarter valued at $28,028,000. Blue Whale Capital LLP grew its position in DraftKings by 59.7% in the 3rd quarter. Blue Whale Capital LLP now owns 1,644,774 shares of the company’s stock valued at $64,475,000 after buying an additional 615,011 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in DraftKings in the 4th quarter valued at $17,334,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Stock Up 4.6 %

DKNG opened at $45.44 on Thursday. The firm has a market cap of $22.16 billion, a P/E ratio of -51.64, a PEG ratio of 3.18 and a beta of 1.93. The business’s fifty day simple moving average is $40.31 and its 200 day simple moving average is $38.51. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 200,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the transaction, the insider now owns 1,342,722 shares of the company’s stock, valued at $52,366,158. This represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 963,742 shares of company stock worth $38,082,888. Corporate insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DKNG shares. Mizuho boosted their price target on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Barclays boosted their target price on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. JMP Securities reduced their price target on DraftKings from $52.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, January 6th. Morgan Stanley lifted their price target on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna cut their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $50.92.

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.