DraftKings Inc. (NASDAQ:DKNG) Shares Bought by US Bancorp DE

US Bancorp DE grew its position in DraftKings Inc. (NASDAQ:DKNG) by 11.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 958,662 shares of the company’s stock after acquiring an additional 98,947 shares during the period. US Bancorp DE’s holdings in DraftKings were worth $35,662,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DKNG. Stonebridge Financial Group LLC acquired a new stake in DraftKings during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings in the 3rd quarter valued at approximately $43,000. Creative Financial Designs Inc. ADV increased its holdings in shares of 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 purchasing an additional 320 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of DraftKings during the fourth quarter worth approximately $48,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DKNG. Morgan Stanley raised their target price on shares of DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Macquarie raised their price objective on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of DraftKings in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, BTIG Research set a $59.00 price target on shares of DraftKings in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.44.

DraftKings Stock Up 2.6 %

Shares of DKNG stock opened at $43.86 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a market cap of $21.49 billion, a PE ratio of -41.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.93. The business’s fifty day moving average is $41.78 and its 200-day moving average is $39.79. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Equities analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the transaction, the insider now owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the completion of the sale, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,573,488 shares of company stock worth $109,600,767. 51.19% of the stock is owned by company 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.