DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider R Stanton Dodge sold 23,691 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $710,730.00. Following the completion of the transaction, the insider now directly owns 648,773 shares of the company’s stock, valued at $19,463,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
On Friday, July 21st, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $30.99, for a total transaction of $1,635,559.23.
On Wednesday, July 12th, R Stanton Dodge sold 211,108 shares of DraftKings stock. The shares were sold at an average price of $30.12, for a total transaction of $6,358,572.96.
DraftKings Price Performance
DKNG stock traded down $0.01 during midday trading on Friday, reaching $29.64. The company had a trading volume of 9,206,582 shares, compared to its average volume of 12,454,366. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of -11.53 and a beta of 1.81. The stock has a 50 day moving average price of $28.95 and a 200-day moving average price of $23.91. DraftKings Inc. has a 1-year low of $10.69 and a 1-year high of $34.49. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60.
DraftKings (NASDAQ:DKNG – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. The business had revenue of $874.93 million during the quarter, compared to the consensus estimate of $762.25 million. DraftKings had a negative return on equity of 97.42% and a negative net margin of 38.90%. Equities research analysts expect that DraftKings Inc. will post -1.61 earnings per share for the current year.
Analyst Ratings Changes
Several research firms recently weighed in on DKNG. BTIG Research raised their target price on shares of DraftKings from $34.00 to $39.00 in a research note on Friday, August 4th. Citigroup raised their target price on shares of DraftKings from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. UBS Group raised their target price on shares of DraftKings from $30.00 to $39.00 in a research note on Monday, August 21st. Argus lifted their price objective on shares of DraftKings from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Craig Hallum lifted their price objective on shares of DraftKings from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.58.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL acquired a new position in DraftKings during the second quarter worth about $2,460,000. BOKF NA acquired a new position in DraftKings during the second quarter worth about $27,000. California State Teachers Retirement System raised its stake in DraftKings by 3.9% during the second quarter. California State Teachers Retirement System now owns 485,665 shares of the company’s stock worth $12,904,000 after acquiring an additional 18,024 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in DraftKings during the second quarter worth about $51,000. Finally, Nuveen Asset Management LLC raised its stake in DraftKings by 6.5% during the second quarter. Nuveen Asset Management LLC now owns 1,085,160 shares of the company’s stock worth $28,833,000 after acquiring an additional 66,547 shares in the last quarter. Institutional investors and hedge funds own 32.84% of the company’s stock.
DraftKings Company Profile
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.