DraftKings Inc. (NASDAQ:DKNG) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,924 shares of the company’s stock after purchasing an additional 4,952 shares during the quarter. D.A. Davidson & CO.’s holdings in DraftKings were worth $1,076,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DKNG. Stonebridge Financial Group LLC purchased a new position in shares of DraftKings in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings in the fourth quarter valued at approximately $30,000. Delos Wealth Advisors LLC acquired a new position in shares of DraftKings during the 3rd quarter worth approximately $43,000. Creative Financial Designs Inc. ADV lifted its position in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares in the last quarter. Finally, YANKCOM Partnership acquired a new stake in DraftKings in the 4th quarter valued at $48,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Trading Down 7.8 %

Shares of DraftKings stock opened at $45.57 on Monday. The stock has a 50 day moving average of $41.41 and a 200 day moving average of $39.40. 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 firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of -42.99, a PEG ratio of 1.43 and a beta of 1.93. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Paul Liberman sold 532,095 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the completion of the transaction, the insider now directly owns 68,654 shares in the company, valued at $2,629,448.20. This trade represents a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the insider now directly owns 2,678,613 shares of the company’s stock, valued at $120,537,585. The trade was a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,160,591 shares of company stock valued at $46,945,158 over the last 90 days. 51.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKNG. Stifel Nicolaus upped their price objective on shares of DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Argus set a $60.00 price target on shares of DraftKings in a research note on Tuesday, February 18th. Cowen reiterated a “buy” rating on shares of DraftKings in a research note on Tuesday, February 4th. Truist Financial increased their target price on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC set a $65.00 price target on DraftKings in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, DraftKings has an average rating of “Moderate Buy” and a consensus price target of $54.26.

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.