DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in DraftKings Inc. (NASDAQ:DKNG) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,175 shares of the company’s stock after selling 4,228 shares during the quarter. Xponance Inc.’s holdings in DraftKings were worth $1,945,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its holdings in DraftKings by 4.3% during the third quarter. CWM LLC now owns 14,345 shares of the company’s stock worth $422,000 after purchasing an additional 589 shares during the last quarter. DnB Asset Management AS acquired a new position in DraftKings during the third quarter worth $1,600,000. Arkadios Wealth Advisors raised its holdings in DraftKings by 6.2% during the third quarter. Arkadios Wealth Advisors now owns 8,928 shares of the company’s stock worth $263,000 after purchasing an additional 520 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in DraftKings during the third quarter worth $50,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in DraftKings by 227.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 11,105 shares of the company’s stock worth $327,000 after purchasing an additional 7,715 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now owns 3,195,812 shares in the company, valued at $130,676,752.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now owns 200,239 shares in the company, valued at approximately $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,396,101 shares of company stock worth $58,121,509 over the last quarter. 48.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DKNG. Stifel Nicolaus raised DraftKings from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $45.00 in a report on Friday, January 19th. Susquehanna boosted their price target on DraftKings from $51.00 to $54.00 and gave the stock a “positive” rating in a report on Monday, March 25th. BNP Paribas cut DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Friday, January 19th. UBS Group boosted their price target on DraftKings from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Mizuho began coverage on DraftKings in a research report on Tuesday, March 26th. They issued a “buy” rating and a $58.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

DraftKings Trading Up 1.6 %

Shares of DKNG opened at $41.21 on Wednesday. The stock’s 50-day moving average is $43.69 and its two-hundred day moving average is $38.22. The stock has a market cap of $35.71 billion, a PE ratio of -23.55 and a beta of 1.86. DraftKings Inc. has a 12 month low of $20.26 and a 12 month high of $49.57. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.34 and a quick ratio of 1.34.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.53) EPS. Equities analysts forecast that DraftKings Inc. will post -0.25 earnings per share for the current fiscal year.

DraftKings 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.