DraftKings Inc. (NASDAQ:DKNG) Position Increased by Amundi

Amundi lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,003,946 shares of the company’s stock after buying an additional 126,171 shares during the quarter. Amundi owned approximately 0.11% of DraftKings worth $38,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in DraftKings by 1,147.7% in the fourth quarter. Larson Financial Group LLC now owns 51,990 shares of the company’s stock worth $1,934,000 after acquiring an additional 47,823 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of DraftKings by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 35,663 shares of the company’s stock worth $1,327,000 after purchasing an additional 1,444 shares during the period. Candriam S.C.A. lifted its holdings in shares of DraftKings by 11.4% in the 4th quarter. Candriam S.C.A. now owns 25,623 shares of the company’s stock worth $953,000 after purchasing an additional 2,615 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in DraftKings by 27.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company’s stock valued at $4,766,000 after purchasing an additional 26,164 shares during the period. Finally, Arizona State Retirement System grew its stake in DraftKings by 1.5% during the 4th quarter. Arizona State Retirement System now owns 126,891 shares of the company’s stock worth $4,720,000 after buying an additional 1,932 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on DKNG. Needham & Company LLC set a $65.00 target price on DraftKings in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. BTIG Research set a $59.00 price target on shares of DraftKings in a research note on Monday, February 3rd. Susquehanna reduced their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Cowen reissued a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Three equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.44.

DraftKings Stock Down 0.1 %

Shares of DraftKings stock opened at $38.63 on Thursday. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The firm has a market capitalization of $18.93 billion, a PE ratio of -36.44, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The stock’s fifty day moving average is $42.12 and its 200-day moving average is $40.09.

DraftKings (NASDAQ:DKNG) last posted 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%. Equities analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul Liberman sold 200,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $39.00, for a total value of $7,800,000.00. Following the completion of the sale, the insider now directly owns 1,342,722 shares of the company’s stock, valued at approximately $52,366,158. This represents a 12.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Kalish sold 587,585 shares of the firm’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 sale, the insider now owns 4,118,927 shares of the company’s stock, valued at $193,795,515.35. The trade was a 12.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,558,412 shares of company stock valued at $108,506,588. Company insiders own 51.19% of the company’s stock.

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.