Jocelyn Moore Sells 1,450 Shares of DraftKings Inc. (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNGGet Free Report) Director Jocelyn Moore sold 1,450 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total value of $52,084.00. Following the sale, the director now directly owns 6,814 shares of the company’s stock, valued at approximately $244,758.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DraftKings Trading Down 1.8 %

DraftKings stock opened at $36.89 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.34 and a quick ratio of 1.34. DraftKings Inc. has a one year low of $24.16 and a one year high of $49.57. The stock has a market capitalization of $32.07 billion, a PE ratio of -31.26 and a beta of 1.81. The business’s fifty day moving average is $42.03 and its 200 day moving average is $40.34.

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

Analysts Set New Price Targets

DKNG has been the subject of a number of recent analyst reports. Barclays upped their target price on DraftKings from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, May 6th. JMP Securities restated a “market outperform” rating and set a $52.00 target price on shares of DraftKings in a report on Monday, March 25th. Bank Of America (Bofa) upped their target price on DraftKings from $45.00 to $50.00 in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft upped their target price on DraftKings from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $55.00 target price on shares of DraftKings in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

View Our Latest Stock Report on DKNG

Institutional Investors Weigh In On DraftKings

Several institutional investors have recently modified their holdings of DKNG. Norges Bank purchased a new stake in shares of DraftKings during the fourth quarter valued at $192,140,000. Massachusetts Financial Services Co. MA purchased a new position in DraftKings in the third quarter worth about $107,276,000. Ameriprise Financial Inc. boosted its position in DraftKings by 345.7% in the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock worth $130,742,000 after purchasing an additional 3,444,107 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in DraftKings in the third quarter worth about $91,790,000. Finally, First Trust Advisors LP boosted its position in DraftKings by 148.2% in the fourth quarter. First Trust Advisors LP now owns 4,235,008 shares of the company’s stock worth $149,284,000 after purchasing an additional 2,528,503 shares during the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Company Profile

(Get 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.

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Insider Buying and Selling by Quarter for DraftKings (NASDAQ:DKNG)

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