DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $124,498,580.21. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
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 value of $8,178,000.00.
DraftKings Stock Performance
DraftKings stock traded down $0.36 during trading on Wednesday, hitting $40.85. The stock had a trading volume of 6,680,192 shares, compared to its average volume of 11,689,692. DraftKings Inc. has a 1 year low of $20.26 and a 1 year 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. The stock’s 50 day moving average is $43.63 and its two-hundred day moving average is $38.24. The stock has a market cap of $35.40 billion, a price-to-earnings ratio of -23.34 and a beta of 1.86.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Susquehanna raised their price objective on DraftKings from $51.00 to $54.00 and gave the company a “positive” rating in a report on Monday, March 25th. Wells Fargo & Company lifted their target price on DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Bank Of America (Bofa) lifted their target price on DraftKings from $45.00 to $50.00 in a report on Thursday, February 15th. Mizuho started coverage on DraftKings in a report on Tuesday, March 26th. They set a “buy” rating and a $58.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $52.00 price objective on shares of DraftKings in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.31.
Check Out Our Latest Stock Report on DraftKings
Institutional Investors Weigh In On DraftKings
Several institutional investors have recently made changes to their positions in DKNG. Norges Bank bought a new position in shares of DraftKings in the fourth quarter worth $192,140,000. Massachusetts Financial Services Co. MA bought a new position in shares of DraftKings in the third quarter worth $107,276,000. Ameriprise Financial Inc. increased its holdings in shares of DraftKings by 345.7% in the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock worth $130,742,000 after purchasing an additional 3,444,107 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of DraftKings in the third quarter worth $91,790,000. Finally, First Trust Advisors LP increased its holdings in shares of DraftKings by 148.2% in the fourth quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock worth $149,284,000 after purchasing an additional 2,528,503 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.
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.
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