Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in DraftKings Inc. (NASDAQ:DKNG)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,449 shares of the company's stock, valued at approximately $1,728,000.

Several other institutional investors have also recently added to or reduced their stakes in DKNG. Raiffeisen Bank International AG bought a new position in DraftKings during the 4th quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new position in shares of DraftKings in the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of DraftKings in the fourth quarter worth about $28,000. Synergy Investment Management LLC bought a new position in shares of DraftKings in the fourth quarter worth about $37,000. Finally, Westpac Banking Corp bought a new stake in shares of DraftKings during the fourth quarter worth approximately $44,000. 37.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 3,136 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $35.28, for a total transaction of $110,638.08. Following the completion of the transaction, the director now owns 5,947 shares in the company, valued at approximately $209,810.16. This represents a 34.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction on Monday, April 21st. The stock was 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. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,127,504 shares of company stock worth $42,687,810. 51.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DKNG. 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. BTIG Research dropped their price target on shares of DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Macquarie dropped their price target on shares of DraftKings from $55.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Jefferies Financial Group set a $60.00 price target on shares of DraftKings and gave the stock a "buy" rating in a research note on Sunday, April 13th. Finally, Sanford C. Bernstein began coverage on shares of DraftKings in a research note on Wednesday. They set an "outperform" rating and a $46.00 price target for the company. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.41.

DraftKings Stock Up 6.2%

Shares of DraftKings stock traded up $2.08 on Friday, hitting $35.81. The company had a trading volume of 11,928,400 shares, compared to its average volume of 9,736,017. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The stock has a 50-day moving average of $34.58 and a 200-day moving average of $38.86. The firm has a market capitalization of $31.85 billion, a P/E ratio of -33.78, a P/E/G ratio of 1.43 and a beta of 1.89. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00.

DraftKings 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.