US Bancorp DE Buys 3,493 Shares of DraftKings Inc. (NASDAQ:DKNG)

US Bancorp DE boosted its stake in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,366 shares of the company’s stock after buying an additional 3,493 shares during the quarter. US Bancorp DE’s holdings in DraftKings were worth $788,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of DraftKings by 0.3% during the third quarter. Vanguard Group Inc. now owns 37,038,159 shares of the company’s stock worth $1,090,403,000 after buying an additional 109,406 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of DraftKings by 39.4% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 7,153,967 shares of the company’s stock worth $210,613,000 after acquiring an additional 2,022,000 shares in the last quarter. Norges Bank acquired a new position in shares of DraftKings in the 4th quarter valued at about $192,140,000. Ameriprise Financial Inc. boosted its position in shares of DraftKings by 345.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock valued at $130,742,000 after purchasing an additional 3,444,107 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in DraftKings by 21.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,424,931 shares of the company’s stock worth $155,979,000 after purchasing an additional 781,058 shares during the period. Institutional investors own 37.70% of the company’s stock.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $40.91, for a total value of $8,182,000.00. Following the transaction, the insider now directly owns 3,043,231 shares in the company, valued at $124,498,580.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 600,000 shares of company stock valued at $25,434,000. 48.94% of the stock is owned by insiders.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $36.66 on Thursday. The company has a market capitalization of $31.87 billion, a PE ratio of -31.07 and a beta of 1.81. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $42.36 and its 200-day moving average price is $40.36. DraftKings Inc. has a twelve month low of $24.16 and a twelve month high of $49.57.

DraftKings (NASDAQ:DKNGGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm posted ($0.87) EPS. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities analysts anticipate that DraftKings Inc. will post -0.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their price target on DraftKings from $51.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. UBS Group increased their target price on shares of DraftKings from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Bank Of America (Bofa) lifted their price target on shares of DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Susquehanna dropped their price objective on shares of DraftKings from $56.00 to $49.00 and set a “positive” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on DraftKings from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Check Out Our Latest Research Report on DKNG

About DraftKings

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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