DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Jason Robins sold 200,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the sale, the insider now directly owns 3,043,231 shares of the company’s stock, valued at $124,498,580.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Jason Robins also recently made the following trade(s):
- On Wednesday, February 21st, Jason Robins sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $40.89, for a total transaction of $8,178,000.00.
DraftKings Stock Up 0.6 %
DKNG stock opened at $41.09 on Friday. The company has a market cap of $35.61 billion, a PE ratio of -23.48 and a beta of 1.86. The business has a 50-day simple moving average of $43.57 and a 200 day simple moving average of $38.26. DraftKings Inc. has a 52 week low of $20.26 and a 52 week high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49.
Institutional Trading of DraftKings
Several hedge funds and other institutional investors have recently made changes to their positions in DKNG. CWM LLC lifted its stake in DraftKings by 4.3% in the third quarter. CWM LLC now owns 14,345 shares of the company’s stock valued at $422,000 after buying an additional 589 shares during the period. DnB Asset Management AS acquired a new position in DraftKings in the third quarter valued at approximately $1,600,000. Arkadios Wealth Advisors lifted its stake in DraftKings by 6.2% in the third quarter. Arkadios Wealth Advisors now owns 8,928 shares of the company’s stock valued at $263,000 after buying an additional 520 shares during the period. Impact Partnership Wealth LLC acquired a new position in DraftKings in the third quarter valued at approximately $50,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in DraftKings by 227.6% in the third quarter. Newbridge Financial Services Group Inc. now owns 11,105 shares of the company’s stock valued at $327,000 after buying an additional 7,715 shares during the period. 37.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on DKNG shares. Stifel Nicolaus upgraded shares of DraftKings from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $45.00 in a research report on Friday, January 19th. Oppenheimer increased their price target on shares of DraftKings from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Benchmark reiterated a “buy” rating and issued a $50.00 price target on shares of DraftKings in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, Mizuho initiated coverage on shares of DraftKings in a report on Tuesday, March 26th. They set a “buy” rating and a $58.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.31.
Get Our Latest Research Report on DraftKings
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.
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