DraftKings Inc. (NASDAQ:DKNG) Stock Holdings Lifted by Claro Advisors LLC

Claro Advisors LLC raised its stake in DraftKings Inc. (NASDAQ:DKNG) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,093 shares of the company’s stock after buying an additional 264 shares during the period. Claro Advisors LLC’s holdings in DraftKings were worth $673,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Grassi Investment Management increased its holdings in shares of DraftKings by 16.4% in the fourth quarter. Grassi Investment Management now owns 29,500 shares of the company’s stock valued at $1,097,000 after buying an additional 4,150 shares in the last quarter. Diversified Trust Co increased its holdings in shares of DraftKings by 16.7% in the fourth quarter. Diversified Trust Co now owns 61,607 shares of the company’s stock valued at $2,292,000 after buying an additional 8,802 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of DraftKings by 14.6% in 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 in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of DraftKings in the third quarter valued at $1,191,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of DraftKings in the third quarter valued at $304,000. Institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DKNG. Wells Fargo & Company increased their target price on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Barclays increased their target price on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of DraftKings in a report on Friday, November 8th. Finally, Mizuho increased their target price on DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.08.

DraftKings Trading Up 0.9 %

Shares of NASDAQ:DKNG opened at $39.83 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day moving average is $40.57 and its 200-day moving average is $37.92. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The company has a market cap of $35.08 billion, a P/E ratio of -45.26 and a beta of 1.90.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts predict that DraftKings Inc. will post -0.79 earnings per share for the current year.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction dated 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 approximately $52,366,158. This represents a 12.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,052,183 shares of company stock worth $41,303,025. Company insiders own 51.19% of the company’s stock.

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.