DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Atria Investments Inc

Atria Investments Inc lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 47.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,062 shares of the company’s stock after acquiring an additional 2,588 shares during the quarter. Atria Investments Inc’s holdings in DraftKings were worth $300,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co lifted its holdings in DraftKings by 3.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after acquiring an additional 249 shares during the period. Claro Advisors LLC lifted its stake in shares of DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after purchasing an additional 264 shares during the period. Allworth Financial LP boosted its holdings in DraftKings by 8.0% during the fourth quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock worth $150,000 after buying an additional 271 shares in the last quarter. Westside Investment Management Inc. grew its position in DraftKings by 0.6% during the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock valued at $1,678,000 after buying an additional 288 shares during the period. Finally, Nvwm LLC increased its holdings in DraftKings by 1.6% in the fourth quarter. Nvwm LLC now owns 19,343 shares of the company’s stock valued at $720,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DKNG shares. BTIG Research set a $59.00 target price on DraftKings in a research report on Monday, February 3rd. Benchmark boosted their price objective on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Susquehanna decreased their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their price target on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Argus set a $60.00 price objective on shares of DraftKings in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

DraftKings Price Performance

DKNG opened at $38.73 on Tuesday. The stock’s 50-day moving average price is $42.17 and its 200 day moving average price is $40.19. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The firm has a market cap of $18.98 billion, a price-to-earnings ratio of -36.54, a PEG ratio of 1.43 and a beta of 2.07. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG) last issued its quarterly 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%. As a group, sell-side analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other DraftKings news, insider Matthew Kalish sold 210,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $40.61, for a total value of $8,528,100.00. Following the sale, the insider now directly owns 4,140,509 shares of the company’s stock, valued at approximately $168,146,070.49. This represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the sale, the director now directly owns 1,612 shares of the company’s stock, valued at approximately $67,704. This trade represents a 67.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,558,412 shares of company stock worth $108,506,588 in the last ninety days. 51.19% of the stock is owned by corporate insiders.

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.