Nuveen Asset Management LLC Has $229.69 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Nuveen Asset Management LLC lessened its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,174,531 shares of the company's stock after selling 249,407 shares during the period. Nuveen Asset Management LLC owned approximately 1.27% of DraftKings worth $229,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of DraftKings by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock valued at $1,602,327,000 after acquiring an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings 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 valued at $690,791,000 after acquiring an additional 707,504 shares during the period. FMR LLC lifted its position in shares of DraftKings by 110.6% in the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after acquiring an additional 7,150,382 shares in the last quarter. Janus Henderson Group PLC raised its stake in DraftKings by 31,346.8% during the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock valued at $349,005,000 after purchasing an additional 9,352,019 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of DraftKings by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company's stock worth $299,921,000 after buying an additional 89,988 shares during the period. Institutional investors own 37.70% of the company's stock.

DraftKings Stock Performance

NASDAQ:DKNG traded up $0.30 during trading hours on Monday, hitting $37.20. 7,110,097 shares of the company traded hands, compared to its average volume of 9,902,433. 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 twelve month low of $28.69 and a twelve month high of $53.61. The firm has a 50-day moving average of $35.25 and a 200 day moving average of $39.34. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of -35.09, a P/E/G ratio of 1.43 and a beta of 1.89.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. On average, analysts forecast that DraftKings Inc. will post 0.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on DKNG. Susquehanna raised their price objective on DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a research report on Monday, May 12th. Macquarie lowered their price objective on shares of DraftKings from $55.00 to $53.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Mizuho cut their target price on shares of DraftKings from $59.00 to $58.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. Stifel Nicolaus lowered their price target 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. Finally, TD Cowen cut their price objective on DraftKings from $55.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.04.

Insider Transactions at DraftKings

In related news, CFO Alan Wayne Ellingson sold 6,829 shares of DraftKings stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $36.77, for a total value of $251,102.33. Following the completion of the transaction, the chief financial officer now directly owns 171,268 shares of the company's stock, valued at $6,297,524.36. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jocelyn Moore sold 3,420 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the sale, the director now owns 1,612 shares of the company's stock, valued at $67,704. The trade was a 67.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,697,908 shares of company stock valued at $112,137,019. 51.19% of the stock is owned by corporate insiders.

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.