DraftKings Inc. (NASDAQ:DKNG) Insider Sells $1,985,470.74 in Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $37.62, for a total transaction of $1,985,470.74. Following the completion of the transaction, the insider now directly owns 706,620 shares of the company’s stock, valued at $26,583,044.40. The trade was a 6.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

R Stanton Dodge also recently made the following trade(s):

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total transaction of $2,058,303.00.

DraftKings Price Performance

Shares of DKNG opened at $36.91 on Wednesday. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of -34.82, a PEG ratio of 1.43 and a beta of 2.07. The stock has a 50 day moving average of $42.16 and a 200-day moving average of $40.21.

DraftKings (NASDAQ:DKNG) last announced 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 forecast that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DKNG shares. JPMorgan Chase & Co. raised their target price on shares of DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Barclays upped their target price on DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial raised their price target on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a report on Tuesday, February 18th. Finally, Morgan Stanley boosted their target price on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. 111 Capital acquired a new stake in DraftKings during the fourth quarter worth about $438,000. Thoma Capital Management LLC bought a new position in shares of DraftKings during the fourth quarter valued at approximately $902,000. Siemens Fonds Invest GmbH acquired a new stake in shares of DraftKings during the 4th quarter worth approximately $665,000. Total Wealth Planning & Management Inc. bought a new stake in shares of DraftKings in the 4th quarter worth approximately $243,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in DraftKings during the 4th quarter valued at approximately $1,728,000. 37.70% of the stock is owned by institutional investors and hedge funds.

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.