SYM FINANCIAL Corp acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,905 shares of the company's stock, valued at approximately $229,000.
Several other large investors also recently bought and sold shares of DKNG. Vanguard Group Inc. boosted its holdings in DraftKings by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock worth $1,602,327,000 after purchasing an additional 584,452 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 worth $690,791,000 after buying an additional 707,504 shares during the period. FMR LLC increased its holdings 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. Janus Henderson Group PLC increased its stake in DraftKings by 31,346.8% in the fourth quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock valued at $349,005,000 after acquiring an additional 9,352,019 shares during the period. Finally, Geode Capital Management LLC grew its position in 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 last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.
Insider Activity
In other news, insider R Stanton Dodge sold 158,331 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $39.00, for a total value of $6,174,909.00. Following the completion of the sale, the insider directly owned 504,381 shares of the company's stock, valued at $19,670,859. This represents a 23.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Kalish sold 210,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $37.83, for a total value of $7,944,300.00. Following the completion of the sale, the insider owned 4,155,130 shares of the company's stock, valued at $157,188,567.90. The trade was a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 589,404 shares of company stock worth $22,639,746 over the last ninety days. Company insiders own 51.19% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on DraftKings from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Guggenheim lowered their target price on DraftKings from $61.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. began coverage on shares of DraftKings in a research report on Monday, June 23rd. They set an "overweight" rating and a $50.00 price objective for the company. Susquehanna boosted their target price on shares of DraftKings from $52.00 to $60.00 and gave the stock a "positive" rating in a research report on Friday. Finally, Bank of America decreased their price target on DraftKings from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, DraftKings currently has an average rating of "Moderate Buy" and a consensus target price of $54.38.
Get Our Latest Analysis on DKNG
DraftKings Stock Performance
Shares of DKNG stock traded up $0.82 during trading hours on Friday, reaching $44.86. 4,767,604 shares of the company traded hands, compared to its average volume of 8,140,658. The firm has a 50-day moving average price of $39.68 and a 200 day moving average price of $39.08. The company has a market cap of $39.89 billion, a P/E ratio of -54.05, a P/E/G ratio of 1.51 and a beta of 1.67. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.20 and a quick ratio of 1.20. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61.
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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