Achmea Investment Management B.V. Makes New Investment in DraftKings Inc. (NASDAQ:DKNG)

Achmea Investment Management B.V. bought a new stake in DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 44,879 shares of the company’s stock, valued at approximately $1,669,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in DraftKings in the fourth quarter valued at $28,000. Synergy Asset Management LLC purchased a new stake in DraftKings in the fourth quarter valued at $30,000. Synergy Investment Management LLC purchased a new stake in DraftKings in the fourth quarter valued at $37,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings in the third quarter valued at $43,000. Finally, YANKCOM Partnership purchased a new stake in DraftKings in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DKNG shares. Truist Financial lifted their target price on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. BTIG Research set a $59.00 price objective on DraftKings in a report on Monday, February 3rd. Argus set a $60.00 price objective on DraftKings in a report on Tuesday, February 18th. Canaccord Genuity Group boosted their price objective on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Cowen reiterated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average price target of $54.44.

DraftKings Trading Up 2.4 %

NASDAQ:DKNG opened at $37.87 on Friday. The stock has a 50-day simple moving average of $42.14 and a 200-day simple moving average of $40.09. The stock has a market cap of $18.55 billion, a P/E ratio of -35.73, a P/E/G ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data 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%. As a group, analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Activity at DraftKings

In related news, insider Matthew Kalish sold 587,585 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the completion of the sale, the insider now directly owns 4,118,927 shares of the company’s stock, valued at $193,795,515.35. This represents a 12.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Liberman sold 532,095 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,558,412 shares of company stock valued at $108,506,588 in the last three months. 51.19% of the stock is currently 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.