DraftKings Inc. (NASDAQ:DKNG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-eight analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $55.04.
A number of equities analysts have recently issued reports on DKNG shares. Citigroup dropped their price target on DraftKings from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Morgan Stanley raised their price target on DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Cfra Research upgraded DraftKings to a "moderate buy" rating in a research note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $65.00 price target on shares of DraftKings in a research note on Friday, May 9th. Finally, Susquehanna lifted their target price on DraftKings from $42.00 to $52.00 and gave the company a "positive" rating in a research report on Monday, May 12th.
View Our Latest Analysis on DKNG
Insider Transactions at DraftKings
In other news, insider Matthew Kalish sold 587,585 shares of DraftKings 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 directly owns 4,118,927 shares of the company's stock, valued at approximately $193,795,515.35. The trade was a 12.48% 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. Also, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the sale, the chief financial officer now directly owns 179,435 shares in the company, valued at $7,611,632.70. This trade represents a 46.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,697,908 shares of company stock valued at $112,137,019. 51.19% of the stock is currently owned by insiders.
Institutional Investors Weigh In On DraftKings
Several large investors have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd bought a new stake in DraftKings during the first quarter worth approximately $854,000. SCS Capital Management LLC bought a new stake in DraftKings during the first quarter worth approximately $309,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DraftKings by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,530,232 shares of the company's stock worth $50,819,000 after acquiring an additional 66,308 shares during the last quarter. Empowered Funds LLC increased its stake in DraftKings by 18.0% during the first quarter. Empowered Funds LLC now owns 9,115 shares of the company's stock worth $303,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of DraftKings during the first quarter valued at approximately $1,752,000. 37.70% of the stock is owned by institutional investors.
DraftKings Stock Performance
DKNG stock opened at $37.20 on Tuesday. The company has a market cap of $33.08 billion, a P/E ratio of -35.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89. DraftKings has a 1 year low of $28.69 and a 1 year high of $53.61. 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 moving average price is $35.22 and its 200-day moving average price is $39.35.
About DraftKings
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Get Free ReportDraftKings 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.
Further Reading
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