R Stanton Dodge Sells 52,777 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the completion of the sale, the insider now directly owns 653,843 shares of the company’s stock, valued at $25,499,877. The trade was a 7.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, March 14th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $37.62, for a total transaction of $1,985,470.74.

DraftKings Stock Performance

DKNG stock traded down $1.82 during midday trading on Tuesday, hitting $36.91. 7,763,188 shares of the stock traded hands, compared to its average volume of 9,619,819. The firm has a market cap of $18.08 billion, a P/E ratio of -34.82, a PEG ratio of 1.43 and a beta of 2.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock’s fifty day simple moving average is $42.16 and its 200-day simple moving average is $40.21. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. On average, analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

DKNG has been the subject of a number of analyst reports. Susquehanna decreased their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. BTIG Research set a $59.00 target price on shares of DraftKings in a research report on Monday, February 3rd. TD Cowen decreased their target price on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley increased their target price on shares of DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, Piper Sandler restated an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

Institutional Trading of DraftKings

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC grew its position in DraftKings by 1.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 10,699 shares of the company’s stock valued at $398,000 after buying an additional 203 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in DraftKings by 0.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 77,696 shares of the company’s stock valued at $2,946,000 after purchasing an additional 217 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after purchasing an additional 249 shares in the last quarter. Claro Advisors LLC lifted its holdings in DraftKings by 1.5% during the fourth quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after purchasing an additional 264 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in DraftKings by 8.0% during the fourth quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock valued at $150,000 after purchasing an additional 271 shares in the last quarter. Institutional investors and hedge funds own 37.70% 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.