Jason Robins Sells 200,000 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 200,000 shares of the firm’s 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 approximately $120,537,585. This trade represents a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jason Robins also recently made the following trade(s):

• On Thursday, November 21st, Jason Robins sold 3,151 shares of DraftKings stock. The shares were sold at an average price of $43.71, for a total value of $137,730.21.

DraftKings Stock Up 15.2 %

DKNG opened at $53.49 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of -60.78, a price-to-earnings-growth ratio of 3.18 and a beta of 1.93. The business has a 50-day moving average of $40.54 and a two-hundred day moving average of $38.75. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. On average, research analysts expect that DraftKings Inc. will post -0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of recent analyst reports. Macquarie raised their target price on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Canaccord Genuity Group lifted their price target on DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen cut their price target on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Benchmark lifted their price target on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $51.64.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently bought and sold shares of the business. Stonebridge Financial Group LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $37,000. Delos Wealth Advisors LLC acquired a new stake in DraftKings during the 3rd quarter worth approximately $43,000. Finally, Westpac Banking Corp acquired a new stake in DraftKings during the 4th quarter worth approximately $44,000. 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.