DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,960 shares of the company's stock after selling 28,668 shares during the period. Stifel Financial Corp's holdings in DraftKings were worth $6,211,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DKNG. Stonebridge Financial Group LLC acquired a new stake in shares of DraftKings in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new stake in shares of DraftKings during the 4th quarter valued at approximately $30,000. Synergy Investment Management LLC purchased a new position in DraftKings in the 4th quarter valued at approximately $37,000. Westpac Banking Corp purchased a new position in shares of DraftKings in the fourth quarter valued at $44,000. Finally, YANKCOM Partnership purchased a new position in DraftKings during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 37.70% of the company's stock.

Insider Transactions at DraftKings

In related news, insider Matthew Kalish sold 587,585 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $47.05, for a total value of $27,645,874.25. Following the sale, the insider now owns 4,118,927 shares of the company's stock, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the transaction, the insider now owns 2,678,613 shares of the company's stock, valued at approximately $120,537,585. The trade was a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,628,302 shares of company stock valued at $111,145,088. Insiders own 51.19% of the company's stock.

Analysts Set New Price Targets

DKNG has been the subject of a number of recent research reports. Guggenheim dropped their price objective on DraftKings from $62.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. BTIG Research cut their price target on DraftKings from $64.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley raised their price objective on DraftKings from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Mizuho dropped their target price on DraftKings from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Susquehanna decreased their price target on DraftKings from $56.00 to $54.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.48.

DraftKings Stock Up 3.0 %

DKNG traded up $0.99 on Friday, reaching $34.25. The company's stock had a trading volume of 8,566,998 shares, compared to its average volume of 9,767,317. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The business's 50 day moving average is $36.26 and its 200 day moving average is $39.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of -32.31, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16.

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 analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, research analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

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.