DraftKings Inc. (NASDAQ:DKNG - Get Free Report) insider R Stanton Dodge sold 158,331 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 504,381 shares in the company, valued at $19,670,859. The trade was a 23.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
R Stanton Dodge also recently made the following trade(s):
- On Monday, June 2nd, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $33.49, for a total value of $1,767,501.73.
- On Monday, May 5th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $34.04, for a total value of $1,796,529.08.
- On Monday, April 21st, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $32.28, for a total transaction of $1,703,641.56.
DraftKings Stock Up 2.3%
Shares of NASDAQ DKNG traded up $0.91 on Friday, reaching $40.51. 14,054,018 shares of the company's stock traded hands, compared to its average volume of 9,720,566. The business's 50 day simple moving average is $35.50 and its two-hundred day simple moving average is $38.50. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a market cap of $36.03 billion, a price-to-earnings ratio of -48.81, a price-to-earnings-growth ratio of 1.12 and a beta of 1.63. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11.
Analyst Ratings Changes
Several research firms recently commented on DKNG. Susquehanna increased their target price on shares of DraftKings from $42.00 to $52.00 and gave the company a "positive" rating in a report on Monday, May 12th. BTIG Research decreased their price objective on DraftKings from $64.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Cowen restated a "buy" rating on shares of DraftKings in a report on Thursday, April 24th. Morgan Stanley decreased their price target on DraftKings from $53.00 to $51.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $65.00 price objective on shares of DraftKings in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, DraftKings presently has a consensus rating of "Moderate Buy" and an average price target of $54.41.
Check Out Our Latest Report on DKNG
Institutional Trading of DraftKings
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vestmark Advisory Solutions Inc. boosted its holdings in DraftKings by 27.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 120,684 shares of the company's stock worth $4,766,000 after acquiring an additional 26,164 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of DraftKings in the 4th quarter worth about $874,000. Scholtz & Company LLC bought a new position in DraftKings in the 4th quarter worth about $1,806,000. Whale Rock Capital Management LLC grew its position in DraftKings by 9.2% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,971,886 shares of the company's stock valued at $184,954,000 after purchasing an additional 416,881 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in DraftKings by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,241,297 shares of the company's stock valued at $120,576,000 after purchasing an additional 66,042 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company's stock.
DraftKings Company Profile
(
Get 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.
See Also
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