Matthew Kalish Sells 210,000 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider Matthew Kalish sold 210,000 shares of DraftKings stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $40.61, for a total transaction of $8,528,100.00. Following the completion of the transaction, the insider now directly owns 4,140,509 shares of the company’s stock, valued at approximately $168,146,070.49. This trade represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Matthew Kalish also recently made the following trade(s):

• On Friday, February 21st, Matthew Kalish sold 587,585 shares of DraftKings stock. The shares were sold at an average price of $47.05, for a total transaction of $27,645,874.25.

DraftKings Stock Performance

Shares of NASDAQ:DKNG opened at $43.41 on Thursday. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of -40.95, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. 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 company’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $39.97.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts predict that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of DraftKings by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company’s stock valued at $1,602,327,000 after purchasing an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in DraftKings by 4.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company’s stock valued at $690,791,000 after purchasing an additional 707,504 shares during the last quarter. FMR LLC boosted its position in DraftKings by 110.6% in the fourth quarter. FMR LLC now owns 13,617,448 shares of the company’s stock valued at $506,569,000 after buying an additional 7,150,382 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of DraftKings by 31,346.8% during the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company’s stock worth $349,005,000 after buying an additional 9,352,019 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of DraftKings by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company’s stock worth $299,921,000 after buying an additional 89,988 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price target on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Needham & Company LLC set a $65.00 target price on DraftKings in a report on Tuesday, February 18th. BTIG Research set a $59.00 price target on DraftKings in a report on Monday, February 3rd. Cowen reiterated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Finally, Stifel Nicolaus raised their target price on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

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.