DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 155,548 shares of the company's stock after selling 8,905 shares during the period. Public Employees Retirement System of Ohio's holdings in DraftKings were worth $5,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DKNG. Vestmark Advisory Solutions Inc. increased its position in shares of DraftKings by 27.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock worth $4,766,000 after acquiring an additional 26,164 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in shares of DraftKings during the fourth quarter valued at $874,000. Highland Capital Management LLC purchased a new stake in shares of DraftKings during the fourth quarter valued at $1,086,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in DraftKings by 18.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,428 shares of the company's stock valued at $1,467,000 after purchasing an additional 6,059 shares during the period. Finally, Foundations Investment Advisors LLC lifted its position in DraftKings by 30.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 51,741 shares of the company's stock valued at $1,925,000 after purchasing an additional 12,074 shares during the period. Institutional investors own 37.70% of the company's stock.

DraftKings Stock Down 0.3%

DraftKings stock traded down $0.11 during trading on Friday, hitting $35.49. 10,061,472 shares of the company were exchanged, compared to its average volume of 9,710,903. The business's 50 day moving average is $34.66 and its 200 day moving average is $39.11. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The company has a market capitalization of $31.56 billion, a P/E ratio of -33.48, a PEG ratio of 1.43 and a beta of 1.89.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DKNG. BMO Capital Markets reiterated an "outperform" rating and issued a $65.00 price objective on shares of DraftKings in a research report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of DraftKings from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Barclays decreased their price objective on shares of DraftKings from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Needham & Company LLC restated a "buy" rating and issued a $65.00 price objective on shares of DraftKings in a report on Friday, May 9th. Finally, Jefferies Financial Group set a $60.00 target price on shares of DraftKings and gave the company a "buy" rating in a research report on Sunday, April 13th. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.96.

Insider Buying and Selling at DraftKings

In related news, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the completion of the sale, the director now owns 1,612 shares of the company's stock, valued at $67,704. The trade was a 67.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R Stanton Dodge sold 52,777 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the sale, the insider now directly owns 706,620 shares of the company's stock, valued at $26,583,044.40. This represents a 6.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,285,011 shares of company stock valued at $49,481,410 in the last 90 days. Corporate insiders own 51.19% of the company's stock.

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.