DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 3,151 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21. Following the sale, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

DraftKings Stock Performance

DraftKings stock opened at $43.09 on Friday. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The company has a fifty day simple moving average of $38.92 and a 200-day simple moving average of $37.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.12 billion. DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. As a group, sell-side analysts predict that DraftKings Inc. will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC boosted its position in shares of DraftKings by 11.9% during the 3rd quarter. Anchor Investment Management LLC now owns 9,422 shares of the company’s stock valued at $369,000 after acquiring an additional 1,000 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of DraftKings by 26.5% during the 3rd quarter. Westside Investment Management Inc. now owns 44,830 shares of the company’s stock valued at $1,757,000 after acquiring an additional 9,385 shares during the last quarter. First Dallas Securities Inc. boosted its position in shares of DraftKings by 2.0% during the 3rd quarter. First Dallas Securities Inc. now owns 78,316 shares of the company’s stock valued at $3,070,000 after acquiring an additional 1,516 shares during the last quarter. Geode Capital Management LLC lifted its position in DraftKings by 3.7% in the third quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock valued at $312,361,000 after buying an additional 284,131 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in DraftKings by 7.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 124,989 shares of the company’s stock valued at $4,900,000 after buying an additional 8,901 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on DKNG shares. BMO Capital Markets restated an “outperform” rating and set a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Susquehanna lifted their target price on shares of DraftKings from $48.00 to $50.00 and gave the company a “positive” rating in a report on Monday, October 7th. Macquarie lifted their target price on shares of DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. TD Cowen lifted their target price on shares of DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, BNP Paribas raised shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.85.

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.