DraftKings Inc. (NASDAQ:DKNG) Insider Sells $2,058,303.00 in 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 shares were sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the sale, the insider now owns 653,843 shares in the company, valued at $25,499,877. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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

DraftKings stock opened at $36.91 on Wednesday. The firm has a fifty day simple moving average of $42.16 and a two-hundred day simple moving average of $40.21. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a market capitalization of $18.08 billion, a PE ratio of -34.82, a P/E/G ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last released its 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 net margin of 10.64% and a negative return on equity of 48.13%. Research analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price target on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC set a $65.00 price target on shares of DraftKings in a report on Tuesday, February 18th. Barclays boosted their price objective on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. TD Cowen lowered their target price on shares of DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus boosted their price target on shares of DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Three investment 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Institutional Trading of DraftKings

A number of institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG bought a new stake in DraftKings during the 4th quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of DraftKings in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC purchased a new position in shares of DraftKings in the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new position in shares of DraftKings during the fourth quarter valued at about $30,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of DraftKings during the fourth quarter worth about $37,000. Hedge funds and other institutional investors 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.