DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Sippican Capital Advisors

Sippican Capital Advisors lowered its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,214 shares of the company’s stock after selling 325 shares during the quarter. Sippican Capital Advisors’ holdings in DraftKings were worth $1,161,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Synergy Asset Management LLC acquired a new position in DraftKings during the fourth quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings during the 3rd quarter worth $43,000. V Square Quantitative Management LLC purchased a new position in shares of DraftKings in the 3rd quarter worth $46,000. Creative Financial Designs Inc. ADV boosted its holdings in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after acquiring an additional 320 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in DraftKings during the fourth quarter valued at about $58,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DraftKings

In related news, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total value of $20,379,238.50. Following the sale, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 of the company’s stock, 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 sold a total of 963,742 shares of company stock valued at $38,082,888 in the last quarter. Insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Mizuho lifted their price target on shares of DraftKings from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Barclays increased their price objective on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. JMP Securities reduced their target price on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.08.

DraftKings Trading Down 0.2 %

Shares of DKNG opened at $41.90 on Thursday. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $49.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average of $40.50 and a 200-day moving average of $38.19.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. As a group, sell-side analysts expect that DraftKings Inc. will post -0.9 EPS for the current year.

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.