Sanibel Captiva Trust Company Inc. bought a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,370 shares of the company's stock, valued at approximately $245,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raiffeisen Bank International AG bought a new position in DraftKings during the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in DraftKings during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new position in DraftKings during the fourth quarter valued at approximately $28,000. Synergy Investment Management LLC bought a new position in DraftKings during the fourth quarter valued at approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in DraftKings by 44.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,024 shares of the company's stock valued at $34,000 after purchasing an additional 317 shares during the period. Institutional investors own 37.70% of the company's stock.
Insider Buying and Selling at DraftKings
In other DraftKings news, insider Paul Liberman sold 643,654 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total transaction of $25,070,323.30. Following the completion of the transaction, the insider now owns 682,764 shares in the company, valued at $26,593,657.80. This trade represents a 48.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $32.28, for a total transaction of $1,703,641.56. Following the transaction, the insider now owns 601,520 shares of the company's stock, valued at $19,417,065.60. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,074,727 shares of company stock worth $40,702,339 over the last 90 days. 51.19% of the stock is owned by insiders.
DraftKings Price Performance
DKNG traded down $1.48 during trading on Friday, hitting $36.50. 10,172,166 shares of the company traded hands, compared to its average volume of 9,758,691. The company has a market cap of $32.46 billion, a PE ratio of -34.43, a P/E/G ratio of 1.43 and a beta of 1.63. The stock's 50-day simple moving average is $35.03 and its two-hundred day simple moving average is $38.62. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Truist Financial reduced their target price on shares of DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Sanford C. Bernstein assumed 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. Piper Sandler reaffirmed an "overweight" rating and set a $60.00 target price (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Argus set a $60.00 target price on shares of DraftKings in a report on Tuesday, February 18th. Finally, Guggenheim reduced their target price on shares of DraftKings from $61.00 to $60.00 and set a "buy" rating for the company in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.41.
Check Out Our Latest Stock Report on DraftKings
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.
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