Natixis Invests $1.53 Million in DraftKings Inc. (NASDAQ:DKNG)

Natixis acquired a new position in DraftKings Inc. (NASDAQ:DKNG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,080 shares of the company's stock, valued at approximately $1,528,000.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in DraftKings by 14.6% in the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company's stock valued at $9,203,000 after buying an additional 29,991 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its stake in DraftKings by 27.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock valued at $4,766,000 after buying an additional 26,164 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $874,000. Highland Capital Management LLC bought a new position in shares of DraftKings during the 4th quarter worth approximately $1,086,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of DraftKings by 18.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,428 shares of the company's stock worth $1,467,000 after buying an additional 6,059 shares during the last quarter. Institutional investors own 37.70% of the company's stock.

Insider Buying and Selling at DraftKings

In other news, insider Matthew Kalish sold 587,585 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $47.05, for a total transaction of $27,645,874.25. Following the completion of the transaction, the insider now directly owns 4,118,927 shares of the company's stock, valued at approximately $193,795,515.35. This represents a 12.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the sale, the insider now owns 2,678,613 shares of the company's stock, valued at approximately $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,628,302 shares of company stock worth $111,145,088 over the last ninety days. Insiders own 51.19% of the company's stock.

DraftKings Price Performance

Shares of NASDAQ DKNG traded down $0.61 during mid-day trading on Monday, reaching $33.18. 3,404,194 shares of the company were exchanged, compared to its average volume of 10,781,655. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The company's 50 day moving average price is $37.56 and its 200 day moving average price is $39.54. The stock has a market capitalization of $29.30 billion, a PE ratio of -31.30, a PEG ratio of 1.43 and a beta of 2.16. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Sell-side analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Mizuho cut their price objective on DraftKings from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday. Susquehanna decreased their price objective on shares of DraftKings from $56.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 target price on shares of DraftKings in a research note on Monday, April 7th. BMO Capital Markets reissued an "outperform" rating and issued a $65.00 target price on shares of DraftKings in a research report on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.64.

About DraftKings

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.