R Stanton Dodge Sells 105,554 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider R Stanton Dodge sold 105,554 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $43.53, for a total value of $4,594,765.62. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $21,765,000. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, June 18th, R Stanton Dodge sold 158,331 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total value of $6,174,909.00.
• On Monday, June 2nd, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $33.49, for a total value of $1,767,501.73.
• On Monday, May 5th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $34.04, for a total value of $1,796,529.08.

DraftKings Stock Performance

Shares of DKNG traded up $0.82 during mid-day trading on Friday, reaching $44.86. The company had a trading volume of 4,767,604 shares, compared to its average volume of 8,140,658. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $39.89 billion, a P/E ratio of -54.05, a PEG ratio of 1.51 and a beta of 1.67. The stock has a 50 day moving average of $39.68 and a two-hundred day moving average of $39.08.

Analyst Ratings Changes

Several research analysts have recently commented on DKNG shares. JPMorgan Chase & Co. started coverage on DraftKings in a research report on Monday, June 23rd. They issued an "overweight" rating and a $50.00 price target for the company. BTIG Research reduced their price target on DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Guggenheim reduced their price target on DraftKings from $61.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Barclays set a $51.00 price target on DraftKings and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Bank of America reduced their target price on DraftKings from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $54.38.

Institutional Trading of DraftKings

Several institutional investors have recently bought and sold shares of the business. NorthRock Partners LLC acquired a new stake in DraftKings in the second quarter valued at approximately $348,000. Envestnet Portfolio Solutions Inc. grew its holdings in DraftKings by 5.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 164,968 shares of the company's stock valued at $7,075,000 after purchasing an additional 8,735 shares during the period. Yousif Capital Management LLC acquired a new stake in DraftKings in the second quarter valued at approximately $253,000. CWM LLC grew its holdings in DraftKings by 35.4% in the second quarter. CWM LLC now owns 183,230 shares of the company's stock valued at $7,859,000 after purchasing an additional 47,875 shares during the period. Finally, Udine Wealth Management Inc. lifted its position in shares of DraftKings by 38.3% in the second quarter. Udine Wealth Management Inc. now owns 58,721 shares of the company's stock valued at $2,519,000 after acquiring an additional 16,270 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

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.