Banque Transatlantique SA Invests $506,000 in DraftKings Inc. $DKNG

Key Points

• Banque Transatlantique SA has acquired a new stake valued at approximately $506,000 in DraftKings Inc., purchasing 16,474 shares in the first quarter.
• Institutional investors control 37.70% of DraftKings' shares, with other notable investors increasing their positions in the company during the fourth quarter.
• DraftKings recently reported an earnings per share of $0.30, significantly surpassing analysts' expectations of $0.16, alongside a revenue of $1.51 billion for the quarter.

Banque Transatlantique SA acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,474 shares of the company's stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of DraftKings by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 18,700,071 shares of the company's stock valued at $621,030,000 after acquiring an additional 130,434 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of 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 acquiring an additional 9,352,019 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of DraftKings by 26.5% during the 1st quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company's stock valued at $278,640,000 after acquiring an additional 1,756,778 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of DraftKings by 4.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,098,641 shares of the company's stock valued at $235,746,000 after acquiring an additional 301,134 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in shares of DraftKings by 9.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,971,886 shares of the company's stock valued at $184,954,000 after acquiring an additional 416,881 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.

DraftKings Stock Down 0.5%

DraftKings stock traded down $0.24 during mid-day trading on Monday, hitting $46.32. 7,793,078 shares of the company's stock were exchanged, compared to its average volume of 10,134,687. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.82. The stock has a market cap of $41.20 billion, a P/E ratio of -71.26, a P/E/G ratio of 1.10 and a beta of 1.73. DraftKings Inc. has a 1-year low of $29.64 and a 1-year high of $53.61. The stock has a 50 day moving average of $44.63 and a two-hundred day moving average of $39.58.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.14. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The firm's revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. DraftKings has set its FY 2025 guidance at EPS. As a group, analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Insider Activity at DraftKings

In other news, Director Jocelyn Moore sold 4,861 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $43.21, for a total transaction of $210,043.81. Following the completion of the sale, the director owned 1,461 shares of the company's stock, valued at approximately $63,129.81. This trade represents a 76.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alan Wayne Ellingson sold 44,693 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $44.90, for a total transaction of $2,006,715.70. Following the completion of the sale, the chief financial officer directly owned 128,131 shares of the company's stock, valued at approximately $5,753,081.90. This represents a 25.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 816,662 shares of company stock valued at $35,460,274. Insiders own 47.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DKNG shares. Deutsche Bank Aktiengesellschaft set a $47.00 price objective on DraftKings and gave the company a "hold" rating in a research report on Friday, August 8th. Susquehanna restated a "positive" rating and issued a $64.00 target price on shares of DraftKings in a report on Friday, August 8th. Jefferies Financial Group set a $54.00 target price on DraftKings in a report on Thursday, August 21st. Mizuho reduced their target price on DraftKings from $59.00 to $58.00 and set an "outperform" rating for the company in a report on Monday, May 12th. Finally, Barclays reaffirmed an "overweight" rating and issued a $54.00 price target (up from $51.00) on shares of DraftKings in a research note on Friday, August 8th. Twenty-four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DraftKings has an average rating of "Moderate Buy" and an average price target of $54.37.

DraftKings Company 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.