TD Waterhouse Canada Inc. Raises Stock Position in DraftKings Inc. (NASDAQ:DKNG)

TD Waterhouse Canada Inc. boosted its position in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 6,408.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,244 shares of the company's stock after purchasing an additional 176,490 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in DraftKings were worth $6,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in DraftKings during the fourth quarter valued at $7,719,000. Transatlantique Private Wealth LLC bought a new stake in shares of DraftKings during the 4th quarter valued at about $620,000. MML Investors Services LLC grew its holdings in shares of DraftKings by 2.0% during the fourth quarter. MML Investors Services LLC now owns 220,155 shares of the company's stock worth $8,190,000 after purchasing an additional 4,307 shares in the last quarter. Natixis bought a new position in shares of DraftKings in the fourth quarter worth approximately $1,528,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in DraftKings by 47.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,373 shares of the company's stock valued at $535,000 after purchasing an additional 4,626 shares in the last quarter. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DKNG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Morgan Stanley raised their price target on DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Guggenheim reduced their price objective on DraftKings from $62.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group boosted their target price on DraftKings from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $65.00 price target on shares of DraftKings in a research report on Monday, April 7th. Three analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.64.

Insider Buying and Selling

In related news, insider Matthew Kalish sold 587,585 shares of the firm's stock in a transaction on 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 trade represents a 12.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R Stanton Dodge sold 52,777 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $32.28, for a total value of $1,703,641.56. Following the transaction, the insider now owns 601,520 shares of the company's stock, valued at approximately $19,417,065.60. The trade was a 8.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,628,302 shares of company stock valued at $111,145,088. 51.19% of the stock is owned by company insiders.

DraftKings Stock Down 1.9 %

NASDAQ DKNG traded down $0.66 during mid-day trading on Monday, reaching $33.13. The stock had a trading volume of 3,404,194 shares, compared to its average volume of 9,773,637. The stock has a market cap of $29.26 billion, a PE ratio of -31.30, a price-to-earnings-growth ratio of 1.43 and a beta of 2.16. 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 Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. The company has a fifty day moving average price of $37.56 and a 200 day moving average price of $39.54.

DraftKings (NASDAQ:DKNG - Get Free Report) last announced its 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%. On average, research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

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.