DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $30.72, for a total transaction of $6,144,000.00. Following the transaction, the insider now owns 2,699,815 shares in the company, valued at approximately $82,938,316.80. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Jason Robins also recently made the following trade(s):
- On Tuesday, May 21st, Jason Robins sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $43.59, for a total transaction of $8,718,000.00.
DraftKings Trading Down 0.7 %
NASDAQ:DKNG traded down $0.20 during trading hours on Friday, hitting $30.34. The stock had a trading volume of 8,537,790 shares, compared to its average volume of 10,924,932. DraftKings Inc. has a one year low of $25.41 and a one year high of $49.57. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $26.37 billion, a price-to-earnings ratio of -25.71 and a beta of 1.81. The business’s 50 day moving average is $37.14 and its 200-day moving average is $40.75.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in DKNG. Norges Bank acquired a new position in shares of DraftKings in the fourth quarter valued at approximately $192,140,000. First Trust Advisors LP boosted its holdings in shares of DraftKings by 148.2% in the fourth quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock valued at $149,284,000 after buying an additional 2,528,503 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of DraftKings in the fourth quarter valued at approximately $87,829,000. Vanguard Group Inc. boosted its holdings in DraftKings by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 39,263,918 shares of the company’s stock worth $1,384,053,000 after purchasing an additional 2,225,759 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in DraftKings by 1,048.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,888,287 shares of the company’s stock worth $85,747,000 after purchasing an additional 1,723,819 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of DraftKings from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Benchmark decreased their target price on shares of DraftKings from $52.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. BTIG Research boosted their price target on shares of DraftKings from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Truist Financial reduced their price target on shares of DraftKings from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of DraftKings in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.
View Our Latest Analysis on DraftKings
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.
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