R Stanton Dodge Sells 52,777 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $37.62, for a total transaction of $1,985,470.74. Following the transaction, the insider now directly owns 706,620 shares of the company’s stock, valued at $26,583,044.40. The trade was a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

R Stanton Dodge also recently made the following trade(s):

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $39.00, for a total value of $2,058,303.00.

DraftKings Stock Up 4.4 %

DraftKings stock opened at $38.54 on Thursday. The company has a market capitalization of $18.88 billion, a P/E ratio of -36.36, a PEG ratio of 1.43 and a beta of 2.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The stock has a 50-day simple moving average of $42.17 and a 200-day simple moving average of $40.20.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. Equities research analysts expect that DraftKings Inc. will post 0.64 earnings per share for the current year.

Institutional Trading of DraftKings

Large investors have recently bought and sold shares of the business. Raiffeisen Bank International AG acquired a new position in DraftKings in the fourth quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of DraftKings during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new position in DraftKings in the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new stake in DraftKings during the 4th quarter valued at approximately $30,000. Finally, Synergy Investment Management LLC acquired a new stake in DraftKings during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DKNG. BTIG Research set a $59.00 price objective on DraftKings in a research note on Monday, February 3rd. Needham & Company LLC set a $65.00 price target on shares of DraftKings in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price target on shares of DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Truist Financial lifted their price objective on shares of DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Cowen reiterated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.