Siemens Fonds Invest GmbH bought a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 17,879 shares of the company's stock, valued at approximately $665,000.
A number of other large investors have also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake 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 purchasing an additional 9,352,019 shares during the period. Norges Bank purchased a new position in shares of DraftKings during the 4th quarter worth about $276,328,000. FMR LLC boosted its stake in shares of DraftKings by 110.6% during the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after purchasing an additional 7,150,382 shares during the period. Baillie Gifford & Co. purchased a new position in shares of DraftKings during the 4th quarter worth about $246,765,000. Finally, Eminence Capital LP purchased a new position in shares of DraftKings during the 4th quarter worth about $65,255,000. 37.70% of the stock is currently owned by institutional investors.
DraftKings Stock Up 1.2%
Shares of DKNG traded up $0.39 during mid-day trading on Tuesday, hitting $34.12. The company's stock had a trading volume of 3,362,870 shares, compared to its average volume of 9,737,505. The company's 50-day moving average is $34.58 and its 200-day moving average is $39.03. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of -32.19, a PEG ratio of 1.43 and a beta of 1.89. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.
Analysts Set New Price Targets
A number of research firms recently commented on DKNG. BMO Capital Markets reaffirmed an "outperform" rating and set a $65.00 price target on shares of DraftKings in a research note on Thursday, April 24th. Citigroup dropped their price target on shares of DraftKings from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Argus set a $60.00 price objective on shares of DraftKings in a research report on Tuesday, February 18th. TD Cowen lowered their price objective on shares of DraftKings from $55.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Finally, Truist Financial lowered their price objective on shares of DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, DraftKings presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.96.
View Our Latest Stock Analysis on DKNG
Insider Transactions at DraftKings
In related news, Director Jocelyn Moore sold 3,420 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the transaction, the director now owns 1,612 shares in the company, valued at $67,704. The trade was a 67.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alan Wayne Ellingson sold 6,829 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $36.77, for a total transaction of $251,102.33. Following the transaction, the chief financial officer now owns 171,268 shares of the company's stock, valued at approximately $6,297,524.36. This trade represents a 3.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,075,011 shares of company stock valued at $40,953,310. Company insiders own 51.19% of the company's stock.
About DraftKings
(
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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