R Stanton Dodge Sells 52,777 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the sale, the insider now directly owns 706,620 shares of the company’s stock, valued at approximately $26,583,044.40. This trade represents a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

R Stanton Dodge also recently made the following trade(s):

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $39.00, for a total transaction of $2,058,303.00.

DraftKings Price Performance

Shares of DKNG opened at $38.44 on Friday. The firm has a fifty day simple moving average of $42.17 and a two-hundred day simple moving average of $40.19. The firm has a market cap of $18.83 billion, a PE ratio of -36.26, a P/E/G ratio of 1.43 and a beta of 2.07. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. On average, equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently made changes to their positions in DKNG. Principal Financial Group Inc. increased its holdings in DraftKings by 14.6% during the third quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after buying an additional 29,991 shares during the last quarter. Atria Investments Inc bought a new stake in shares of DraftKings during the 3rd quarter valued at $215,000. Oppenheimer Asset Management Inc. increased its stake in shares of DraftKings by 79.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,566 shares of the company’s stock worth $1,041,000 after purchasing an additional 11,734 shares in the last quarter. KBC Group NV raised its holdings in DraftKings by 8.3% in the 3rd quarter. KBC Group NV now owns 30,084 shares of the company’s stock worth $1,179,000 after purchasing an additional 2,318 shares during the period. Finally, Metis Global Partners LLC purchased a new position in DraftKings during the third quarter valued at $213,000. Institutional investors own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of DraftKings in a research report on Friday, February 14th. Argus set a $60.00 price objective on DraftKings in a report on Tuesday, February 18th. BTIG Research set a $59.00 target price on DraftKings in a research note on Monday, February 3rd. Finally, Susquehanna dropped their price target on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.