Natixis Advisors LLC Purchases 25,191 Shares of DraftKings Inc. (NASDAQ:DKNG)

Natixis Advisors LLC raised its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 55.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,367 shares of the company's stock after acquiring an additional 25,191 shares during the quarter. Natixis Advisors LLC's holdings in DraftKings were worth $2,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in DraftKings by 92.7% in the 4th quarter. American Century Companies Inc. now owns 42,322 shares of the company's stock valued at $1,574,000 after purchasing an additional 20,365 shares during the last quarter. FMR LLC raised its stake in DraftKings by 110.6% in the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after buying an additional 7,150,382 shares during the period. Phoenix Financial Ltd. acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $832,000. Neuberger Berman Group LLC lifted its position in shares of DraftKings by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 2,617,674 shares of the company's stock valued at $97,377,000 after buying an additional 59,966 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of DraftKings by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 199,102 shares of the company's stock worth $7,407,000 after acquiring an additional 1,250 shares during the period. Institutional investors own 37.70% of the company's stock.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of research analyst reports. Citigroup restated a "buy" rating on shares of DraftKings in a research note on Friday, July 11th. Benchmark increased their price objective on shares of DraftKings from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday. Sanford C. Bernstein started coverage on shares of DraftKings in a report on Wednesday, June 4th. They set an "outperform" rating and a $46.00 target price for the company. Barclays set a $51.00 price target on shares of DraftKings and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Stifel Nicolaus cut their price objective on shares of DraftKings from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.48.

DraftKings Stock Performance

Shares of DraftKings stock opened at $45.20 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.11. The company has a market cap of $40.20 billion, a PE ratio of -69.54, a price-to-earnings-growth ratio of 1.53 and a beta of 1.70. The company has a 50 day moving average of $41.34 and a 200-day moving average of $39.42. DraftKings Inc. has a 1-year low of $29.29 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.30 EPS 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 the consensus estimate of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.23%. The company's revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. As a group, equities research analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew Kalish sold 210,000 shares of the stock in a transaction dated 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 owned 4,155,130 shares of the company's stock, valued at approximately $157,188,567.90. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 3,136 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $35.28, for a total transaction of $110,638.08. Following the completion of the sale, the director owned 5,947 shares in the company, valued at approximately $209,810.16. The trade was a 34.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 642,181 shares of company stock valued at $25,550,925 in the last quarter. Corporate insiders own 51.19% of the company's stock.

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.

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