PFG Investments LLC Has $1.40 Million Position in DraftKings Inc. (NASDAQ:DKNG)

PFG Investments LLC boosted its stake in DraftKings Inc. (NASDAQ:DKNG) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,607 shares of the company’s stock after purchasing an additional 3,357 shares during the period. PFG Investments LLC’s holdings in DraftKings were worth $1,399,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of DraftKings by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock worth $312,361,000 after buying an additional 284,131 shares during the period. FMR LLC increased its stake in shares of DraftKings by 14.7% during the 3rd 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. Fred Alger Management LLC lifted its position in shares of DraftKings by 46.6% during the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after buying an additional 1,476,003 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in DraftKings by 6.8% during the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after purchasing an additional 236,427 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of DraftKings by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock worth $124,470,000 after acquiring an additional 86,336 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

DKNG opened at $41.11 on Tuesday. The company has a market capitalization of $36.20 billion, a price-to-earnings ratio of -46.72, a P/E/G ratio of 3.07 and a beta of 1.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $40.59 and its two-hundred day moving average price is $38.11. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. As a group, analysts anticipate that DraftKings Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DKNG shares. JMP Securities lowered their price objective on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, January 6th. Barclays boosted their price target on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. TD Cowen boosted their price target on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna lowered their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price target on DraftKings from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Insider Activity

In related news, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the sale, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 3,151 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 963,742 shares of company stock valued at $38,082,888 in the last 90 days. 51.19% of the stock is currently owned by insiders.

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.