Diker Management LLC Lowers Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Diker Management LLC decreased its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,000 shares of the company's stock after selling 45,000 shares during the quarter. DraftKings makes up 1.5% of Diker Management LLC's portfolio, making the stock its 15th biggest holding. Diker Management LLC's holdings in DraftKings were worth $1,674,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DKNG. Vanguard Group Inc. grew its position in shares of DraftKings by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock worth $1,602,327,000 after purchasing an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of DraftKings by 4.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company's stock worth $690,791,000 after purchasing an additional 707,504 shares in the last quarter. FMR LLC grew its position in shares of DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after purchasing an additional 7,150,382 shares in the last quarter. Geode Capital Management LLC grew its position in shares of DraftKings by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company's stock worth $299,921,000 after purchasing an additional 89,988 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of DraftKings during the fourth quarter worth about $276,328,000. Institutional investors own 37.70% of the company's stock.

Insider Activity at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the sale, the insider now owns 601,520 shares in the company, valued at approximately $19,417,065.60. The trade was a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Robins sold 200,000 shares of the business's stock in a transaction dated 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 sale, the insider now owns 2,678,613 shares in the company, valued at approximately $120,537,585. The trade was a 6.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,681,079 shares of company stock valued at $112,941,617 in the last ninety days. Corporate insiders own 51.19% of the company's stock.

DraftKings Stock Up 4.7%

Shares of DKNG traded up $1.70 during trading hours on Monday, hitting $37.93. The company had a trading volume of 14,772,285 shares, compared to its average volume of 9,853,522. The company has a market capitalization of $33.49 billion, a PE ratio of -35.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.89. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a one year low of $28.69 and a one year high of $53.61. The company's fifty day moving average price is $35.48 and its two-hundred day moving average price is $39.30.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several research analyst reports. Bank of America cut their price target on DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a report on Friday. Truist Financial lowered their price objective on DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on DraftKings from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Argus set a $60.00 price objective on DraftKings in a research note on Tuesday, February 18th. Finally, Macquarie lowered their price objective on DraftKings from $55.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.04.

DraftKings Profile

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.