Robeco Institutional Asset Management B.V. Grows Stock Holdings in DraftKings Inc. $DKNG

Robeco Institutional Asset Management B.V. grew its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 59.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,995 shares of the company's stock after purchasing an additional 8,192 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in DraftKings were worth $943,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DKNG. AQR Capital Management LLC lifted its holdings in shares of DraftKings by 2,138.9% during the first quarter. AQR Capital Management LLC now owns 4,696,244 shares of the company's stock valued at $155,962,000 after purchasing an additional 4,486,488 shares during the last quarter. Eminence Capital LP lifted its holdings in shares of DraftKings by 195.2% during the first quarter. Eminence Capital LP now owns 5,178,083 shares of the company's stock valued at $171,964,000 after purchasing an additional 3,423,909 shares during the last quarter. Nuveen LLC purchased a new position in shares of DraftKings during the first quarter valued at approximately $107,739,000. AGF Management Ltd. purchased a new position in shares of DraftKings during the first quarter valued at approximately $83,622,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of DraftKings by 26.5% during the first quarter. Baillie Gifford & Co. now owns 8,390,236 shares of the company's stock valued at $278,640,000 after purchasing an additional 1,756,778 shares during the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DraftKings

In other news, Director Ryan R. Moore sold 76,390 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $45.92, for a total value of $3,507,828.80. Following the completion of the sale, the director directly owned 402 shares in the company, valued at $18,459.84. This represents a 99.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider R Stanton Dodge sold 105,554 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.37, for a total value of $5,000,092.98. Following the completion of the sale, the insider owned 512,181 shares of the company's stock, valued at $24,262,013.97. This trade represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 658,331 shares of company stock worth $29,285,365 over the last three months. 47.08% of the stock is currently owned by insiders.

DraftKings Price Performance

Shares of DKNG opened at $32.95 on Wednesday. The firm has a market cap of $16.36 billion, a PE ratio of -50.69, a P/E/G ratio of 0.92 and a beta of 1.99. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.82. The firm has a fifty day simple moving average of $43.85 and a two-hundred day simple moving average of $39.73. DraftKings Inc. has a 1-year low of $29.64 and a 1-year high of $53.61.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative return on equity of 30.06% and a negative net margin of 5.63%.DraftKings's revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. DraftKings has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DKNG shares. Wall Street Zen lowered shares of DraftKings from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Northland Capmk lowered shares of DraftKings from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, October 1st. Benchmark decreased their price objective on shares of DraftKings from $53.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, October 2nd. Citigroup restated a "neutral" rating on shares of DraftKings in a report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft set a $47.00 price objective on shares of DraftKings and gave the stock a "hold" rating in a report on Friday, August 8th. Twenty-six research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.64.

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.

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