DraftKings Inc. (NASDAQ:DKNG) Director Jocelyn Moore Sells 3,136 Shares

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) Director Jocelyn Moore sold 3,136 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $35.28, for a total transaction of $110,638.08. Following the sale, the director now directly owns 5,947 shares of the company's stock, valued at approximately $209,810.16. This trade represents a 34.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Jocelyn Moore also recently made the following trade(s):

• On Thursday, March 6th, Jocelyn Moore sold 3,420 shares of DraftKings stock. The shares were sold at an average price of $42.00, for a total value of $143,640.00.

DraftKings Stock Down 3.2%

DKNG traded down $1.11 on Thursday, reaching $33.73. 10,640,923 shares of the company traded hands, compared to its average volume of 9,728,977. The stock's 50 day moving average price is $34.51 and its 200-day moving average price is $38.97. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The company has a market cap of $30.00 billion, a price-to-earnings ratio of -31.82, a PEG ratio of 1.43 and a beta of 1.89. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

Analysts Set New Price Targets

Several brokerages have weighed in on DKNG. Susquehanna raised their price objective on shares of DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a report on Monday, May 12th. Piper Sandler reissued an "overweight" rating and set a $60.00 target price (up from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Argus set a $60.00 price target on shares of DraftKings in a research report on Tuesday, February 18th. Morgan Stanley dropped their price target on shares of DraftKings from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Stifel Nicolaus dropped their target price on shares of DraftKings from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock worth $349,005,000 after acquiring an additional 9,352,019 shares in the last quarter. Norges Bank acquired a new position in DraftKings during the 4th quarter valued at $276,328,000. FMR LLC raised its stake in DraftKings by 110.6% during the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after purchasing an additional 7,150,382 shares during the last quarter. Baillie Gifford & Co. acquired a new position in DraftKings during the 4th quarter valued at $246,765,000. Finally, AQR Capital Management LLC increased its position in shares of DraftKings by 2,138.9% during the first quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company's stock valued at $155,962,000 after purchasing an additional 4,486,488 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

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.