Jain Global LLC Cuts Position in DraftKings Inc. $DKNG

Key Points

• Jain Global LLC cut its DraftKings stake by 67.8% in Q3, selling 1,114,243 shares and now holds 530,360 shares (about 0.11%) valued at roughly $19.84 million.
• Significant insider activity: insiders sold 547,345 shares worth $14.11 million in the past 90 days and still own about 47.08% of the company (notable sale: R. Stanton Dodge sold 52,777 shares at $32.01).
• Analysts are generally positive with an average "Moderate Buy" rating and a mean price target of $37.19, while the stock trades near $25.87 (market cap ~$12.75B; 52‑week range $21.01–$48.78).

Jain Global LLC decreased its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 67.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 530,360 shares of the company's stock after selling 1,114,243 shares during the period. Jain Global LLC owned approximately 0.11% of DraftKings worth $19,835,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. increased its holdings in DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company's stock valued at $30,000 after buying an additional 405 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of DraftKings during the 3rd quarter worth approximately $33,000. AlphaQuest LLC acquired a new stake in shares of DraftKings in the 3rd quarter worth approximately $41,000. TD Private Client Wealth LLC grew its holdings in shares of DraftKings by 45.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company's stock worth $44,000 after acquiring an additional 365 shares during the period. Finally, Delos Wealth Advisors LLC purchased a new position in DraftKings in the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 37.70% of the company's stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $25.87 on Monday. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The business's fifty day moving average price is $27.88 and its two-hundred day moving average price is $33.15. The stock has a market cap of $12.75 billion, a PE ratio of -646.75, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Rothschild & Co Redburn set a $35.00 price objective on DraftKings in a report on Friday, January 30th. Northland Securities set a $24.00 price target on DraftKings in a research report on Tuesday, February 17th. Barclays reaffirmed an "overweight" rating on shares of DraftKings in a research note on Tuesday, March 3rd. BMO Capital Markets boosted their price objective on shares of DraftKings from $42.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Finally, UBS Group reissued a "buy" rating on shares of DraftKings in a research note on Wednesday, January 7th. Twenty-five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.19.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the sale, the insider owned 500,000 shares of the company's stock, valued at $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Erik Bradbury sold 2,883 shares of DraftKings stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $24.56, for a total value of $70,806.48. Following the sale, the chief accounting officer owned 38,168 shares of the company's stock, valued at approximately $937,406.08. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 547,345 shares of company stock worth $14,111,660 in the last ninety days. 47.08% of the stock is currently owned by insiders.

DraftKings Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings' proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.

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