DraftKings Inc. (NASDAQ:DKNG) CFO Alan Wayne Ellingson Sells 158,661 Shares

DraftKings Inc. (NASDAQ:DKNG) CFO Alan Wayne Ellingson sold 158,661 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the sale, the chief financial officer now directly owns 179,435 shares of the company’s stock, valued at $7,611,632.70. The trade was a 46.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $42.74 on Friday. The business has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $39.63. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of -40.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.93. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Hedge Funds Weigh In On DraftKings

Institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG bought a new stake in shares of DraftKings in the 4th quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in DraftKings in the fourth quarter worth $28,000. Stonebridge Financial Group LLC bought a new stake in DraftKings in the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in shares of DraftKings during the fourth quarter valued at $30,000. Finally, Synergy Investment Management LLC bought a new position in shares of DraftKings during the fourth quarter worth about $37,000. 37.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on DKNG. Truist Financial upped their price target on shares of DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Argus set a $60.00 target price on DraftKings in a research report on Tuesday, February 18th. Barclays raised their target price on DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Benchmark upped their price target on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of DraftKings in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

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.