PFG Investments LLC Has $508,000 Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

PFG Investments LLC lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 14.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,405 shares of the company’s stock after buying an additional 1,800 shares during the quarter. PFG Investments LLC’s holdings in DraftKings were worth $508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DKNG. Whale Rock Capital Management LLC acquired a new position in shares of DraftKings in the 2nd quarter valued at approximately $215,687,000. Two Sigma Investments LP acquired a new position in shares of DraftKings in the 1st quarter valued at approximately $102,351,000. Massachusetts Financial Services Co. MA acquired a new position in shares of DraftKings in the 3rd quarter valued at approximately $107,276,000. Ameriprise Financial Inc. grew its position in shares of DraftKings by 345.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock valued at $130,742,000 after purchasing an additional 3,444,107 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in DraftKings during the 3rd quarter worth approximately $91,790,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DraftKings

In other news, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the sale, the insider now directly owns 200,239 shares in the company, valued at $8,622,291.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the sale, the insider now directly owns 3,195,812 shares in the company, valued at $130,676,752.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the sale, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,101 shares of company stock worth $65,685,509 over the last 90 days. Insiders own 55.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DKNG shares. Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (up previously from $45.00) on shares of DraftKings in a research report on Tuesday, February 20th. Oppenheimer upped their price target on DraftKings from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Mizuho started coverage on DraftKings in a research report on Tuesday. They set a “buy” rating and a $58.00 price target for the company. Needham & Company LLC upped their price target on DraftKings from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised DraftKings from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $45.00 in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $45.14.

DraftKings Stock Performance

DraftKings stock opened at $45.35 on Thursday. DraftKings Inc. has a 12-month low of $17.42 and a 12-month high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $42.27 and its two-hundred day moving average price is $36.21. The stock has a market cap of $39.30 billion, a PE ratio of -25.91 and a beta of 1.87.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned ($0.53) EPS. The business’s revenue was up 43.9% on a year-over-year basis. As a group, analysts expect that DraftKings Inc. will post -0.24 earnings per share for the current fiscal year.

DraftKings 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.