DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 45.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,758 shares of the company's stock after purchasing an additional 38,014 shares during the quarter. Vontobel Holding Ltd.'s holdings in DraftKings were worth $4,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DKNG. Vanguard Group Inc. raised its stake in DraftKings by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock valued at $1,602,327,000 after buying an additional 584,452 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in DraftKings by 4.0% in 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 boosted its holdings in DraftKings by 110.6% in the 4th quarter. FMR LLC now owns 13,617,448 shares of the company's stock worth $506,569,000 after buying an additional 7,150,382 shares during the period. Janus Henderson Group PLC boosted its holdings in DraftKings by 31,346.8% in the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company's stock worth $349,005,000 after buying an additional 9,352,019 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of DraftKings by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company's stock valued at $299,921,000 after purchasing an additional 89,988 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

DraftKings Stock Down 1.6%

DKNG stock traded down $0.65 during trading on Friday, hitting $40.68. 6,794,721 shares of the company's stock traded hands, compared to its average volume of 9,709,037. The firm has a market capitalization of $36.17 billion, a P/E ratio of -49.01, a PEG ratio of 1.05 and a beta of 1.67. The business has a fifty day simple moving average of $37.16 and a two-hundred day simple moving average of $38.49. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.

Insider Buying and Selling at DraftKings

In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of DraftKings stock in a transaction 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 transaction, the chief financial officer directly owned 171,268 shares of the company's stock, valued at approximately $6,297,524.36. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 3,136 shares of DraftKings stock in a transaction on Friday, May 30th. The stock was sold at an average price of $35.28, for a total transaction of $110,638.08. Following the completion of the transaction, the director directly owned 5,947 shares in the company, valued at $209,810.16. This represents a 34.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 536,627 shares of company stock valued at $19,748,622. 51.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on DKNG shares. Sanford C. Bernstein initiated coverage on shares of DraftKings in a report on Wednesday, June 4th. They set an "outperform" rating and a $46.00 price objective for the company. Cfra Research raised shares of DraftKings to a "moderate buy" rating in a report on Monday, April 14th. JMP Securities lowered their price target on shares of DraftKings from $54.00 to $50.00 and set a "market outperform" rating for the company in a report on Thursday, June 5th. Citigroup raised their price objective on shares of DraftKings from $55.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley decreased their price objective on shares of DraftKings from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.90.

DraftKings Company 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.