Toronto Dominion Bank boosted its stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 44.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,784 shares of the company's stock after purchasing an additional 30,779 shares during the period. Toronto Dominion Bank's holdings in DraftKings were worth $3,712,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Raiffeisen Bank International AG bought a new stake in DraftKings during the 4th quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of DraftKings during the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new position in DraftKings in the 4th quarter worth $30,000. Finally, Synergy Investment Management LLC purchased a new stake in DraftKings in the 4th quarter worth $37,000. Institutional investors own 37.70% of the company's stock.
DraftKings Stock Down 1.7%
DKNG stock traded down $0.60 during trading on Wednesday, hitting $34.95. 1,012,696 shares of the company's stock traded hands, compared to its average volume of 9,834,548. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $31.08 billion, a P/E ratio of -33.03, a PEG ratio of 1.43 and a beta of 1.89. The business has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $39.23. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DKNG. Benchmark boosted their price target on DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Northland Securities set a $50.00 price target on shares of DraftKings in a report on Friday, April 25th. TD Securities dropped their price objective on shares of DraftKings from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays cut their price objective on DraftKings from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Finally, Piper Sandler reissued an "overweight" rating and set a $60.00 price target (up from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $55.04.
Check Out Our Latest Stock Report on DraftKings
Insider Transactions at DraftKings
In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $36.77, for a total value of $251,102.33. Following the completion of the sale, the chief financial officer now directly owns 171,268 shares in the company, valued at $6,297,524.36. This trade represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $37.62, for a total value of $1,985,470.74. Following the transaction, the insider now directly owns 706,620 shares in the company, valued at approximately $26,583,044.40. The trade was a 6.95% decrease in their ownership of the stock. 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. Insiders own 51.19% of the company's stock.
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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