R Stanton Dodge Sells 29,086 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 29,086 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $30.00, for a total value of $872,580.00. Following the completion of the transaction, the insider now owns 648,773 shares in the company, valued at $19,463,190. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, September 1st, R Stanton Dodge sold 23,691 shares of DraftKings stock. The shares were sold at an average price of $30.00, for a total value of $710,730.00.
• On Friday, July 21st, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $30.99, for a total value of $1,635,559.23.
• On Wednesday, July 12th, R Stanton Dodge sold 211,108 shares of DraftKings stock. The shares were sold at an average price of $30.12, for a total value of $6,358,572.96.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $31.85 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The stock’s fifty day moving average price is $29.41 and its two-hundred day moving average price is $24.36. DraftKings Inc. has a one year low of $10.69 and a one year high of $34.49. The firm has a market cap of $27.30 billion, a price-to-earnings ratio of -12.39 and a beta of 1.82.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. DraftKings had a negative return on equity of 97.42% and a negative net margin of 38.90%. The firm had revenue of $874.93 million for the quarter, compared to analyst estimates of $762.25 million. On average, equities analysts forecast that DraftKings Inc. will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DKNG shares. Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of DraftKings in a report on Friday, August 4th. Stifel Nicolaus lifted their target price on DraftKings from $25.00 to $32.00 in a research report on Thursday, August 3rd. Truist Financial raised DraftKings from a “hold” rating to a “buy” rating and lifted their target price for the company from $31.00 to $44.00 in a research report on Tuesday, August 8th. Jefferies Financial Group lifted their target price on DraftKings from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Sunday, August 6th. Finally, Barclays lifted their target price on DraftKings from $30.00 to $32.00 in a research report on Thursday. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and an average target price of $32.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BOKF NA acquired a new position in DraftKings in the 2nd quarter valued at $27,000. Parkside Financial Bank & Trust grew its holdings in shares of DraftKings by 233.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after purchasing an additional 710 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of DraftKings during the 2nd quarter worth $27,000. Barrett & Company Inc. acquired a new stake in shares of DraftKings during the 1st quarter worth $32,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of DraftKings during the 2nd quarter worth $51,000. 32.84% of the stock is owned by institutional investors and hedge funds.

About DraftKings

DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.