Mn Services Vermogensbeheer B.V. Sells 15,800 Shares of DraftKings Inc. (NASDAQ:DKNG)

Mn Services Vermogensbeheer B.V. reduced its position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 152,600 shares of the company's stock after selling 15,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in DraftKings were worth $5,068,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Asio Capital LLC acquired a new position in DraftKings during the 1st quarter worth approximately $2,095,000. Wealth Enhancement Advisory Services LLC raised its stake in DraftKings by 272.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 116,888 shares of the company's stock worth $3,882,000 after buying an additional 85,529 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in DraftKings during the 1st quarter worth approximately $304,000. Net Worth Advisory Group acquired a new position in DraftKings during the 1st quarter worth approximately $398,000. Finally, GPS Wealth Strategies Group LLC raised its stake in DraftKings by 197.9% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 849 shares of the company's stock worth $28,000 after buying an additional 564 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DraftKings

In related news, insider Paul Liberman sold 643,654 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now owns 682,764 shares of the company's stock, valued at $26,593,657.80. This represents a 48.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Kalish sold 210,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $37.83, for a total value of $7,944,300.00. Following the completion of the transaction, the insider now directly owns 4,155,130 shares in the company, valued at approximately $157,188,567.90. This represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,021,950 shares of company stock valued at $38,644,036 over the last 90 days. 51.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Northland Securities set a $50.00 price objective on DraftKings in a report on Friday, April 25th. TD Securities reduced their target price on DraftKings from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of DraftKings in a report on Friday, June 13th. Barclays reduced their target price on DraftKings from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Finally, BTIG Research reduced their target price on DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $54.41.

DraftKings Price Performance

Shares of DKNG stock traded up $1.48 on Thursday, reaching $39.60. The company's stock had a trading volume of 10,355,816 shares, compared to its average volume of 9,710,740. The company has a market capitalization of $35.22 billion, a P/E ratio of -47.71, a PEG ratio of 1.12 and a beta of 1.63. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The stock's 50 day simple moving average is $35.27 and its 200-day simple moving average is $38.55.

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.