Net Worth Advisory Group purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,990 shares of the company's stock, valued at approximately $398,000.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in DraftKings by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock valued at $1,602,327,000 after purchasing an additional 584,452 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in DraftKings by 4.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company's stock valued at $690,791,000 after purchasing an additional 707,504 shares during the period. FMR LLC increased its holdings in DraftKings by 110.6% during the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after purchasing an additional 7,150,382 shares during the period. Janus Henderson Group PLC grew its holdings 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 worth $349,005,000 after acquiring an additional 9,352,019 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of DraftKings by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company's stock worth $299,921,000 after acquiring an additional 89,988 shares during the period. Hedge funds and other 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. TD Securities reduced their target price on DraftKings from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Susquehanna upped their target price on DraftKings from $42.00 to $52.00 and gave the stock a "positive" rating in a report on Monday, May 12th. Cowen reiterated a "buy" rating on shares of DraftKings in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and set a $60.00 target price (up previously from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Finally, Jefferies Financial Group set a $60.00 target price on DraftKings and gave the stock a "buy" rating in a report on Sunday, April 13th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, DraftKings currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.41.
View Our Latest Stock Analysis on DraftKings
Insider Transactions at DraftKings
In other DraftKings news, insider Paul Liberman sold 643,654 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now owns 682,764 shares in the company, valued at $26,593,657.80. This represents a 48.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the completion of the sale, the insider now directly owns 653,843 shares of the company's stock, valued at $25,499,877. This represents a 7.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,074,727 shares of company stock worth $40,702,339 in the last three months. Corporate insiders own 51.19% of the company's stock.
DraftKings Stock Performance
DKNG traded down $1.48 during mid-day trading on Friday, reaching $36.50. 10,172,166 shares of the company traded hands, compared to its average volume of 9,758,691. The stock has a market capitalization of $32.46 billion, a P/E ratio of -34.43, a P/E/G ratio of 1.43 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The company's fifty day moving average price is $35.03 and its 200-day moving average price is $38.62. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61.
DraftKings Company Profile
(
Free Report)
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.
See Also
Before you consider DraftKings, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DraftKings wasn't on the list.
While DraftKings currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
