DraftKings Inc. (NASDAQ:DKNG – Get Free Report) 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.
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.
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.
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