Sapient Capital LLC Has $755,000 Position in DraftKings Inc. (NASDAQ:DKNG)

Sapient Capital LLC lifted its stake in DraftKings Inc. (NASDAQ:DKNG) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,256 shares of the company’s stock after purchasing an additional 453 shares during the period. Sapient Capital LLC’s holdings in DraftKings were worth $755,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. RDA Financial Network acquired a new stake in DraftKings during the 1st quarter worth $232,000. Sanctuary Advisors LLC bought a new stake in DraftKings in the 2nd quarter valued at $1,530,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in DraftKings by 63.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,979 shares of the company’s stock valued at $3,129,000 after acquiring an additional 31,880 shares in the last quarter. LRI Investments LLC bought a new stake in DraftKings in the 1st quarter valued at $31,000. Finally, Atwood & Palmer Inc. lifted its position in DraftKings by 4.0% in the 3rd quarter. Atwood & Palmer Inc. now owns 515,075 shares of the company’s stock valued at $20,191,000 after acquiring an additional 19,887 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

DKNG has been the topic of several analyst reports. Oppenheimer cut their price target on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. BNP Paribas upgraded shares of DraftKings from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Tuesday, September 10th. The Goldman Sachs Group lowered their price objective on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Truist Financial restated a “buy” rating and set a $50.00 price objective on shares of DraftKings in a research note on Wednesday, August 14th. Finally, Benchmark restated a “buy” rating and set a $44.00 price objective on shares of DraftKings in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.85.

Insider Activity at DraftKings

In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total value of $26,544,290.96. Following the sale, the insider now owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $7,050,000.00. Following the completion of the transaction, the insider now owns 2,678,082 shares in the company, valued at $94,402,390.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Liberman sold 643,654 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at approximately $5,662,581.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,132,095 shares of company stock valued at $42,890,328 over the last ninety days. Corporate insiders own 51.19% of the company’s stock.

DraftKings Trading Down 1.3 %

NASDAQ:DKNG opened at $37.93 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of -32.14 and a beta of 1.81. The firm has a fifty day simple moving average of $36.20 and a two-hundred day simple moving average of $38.80. DraftKings Inc. has a 12 month low of $25.73 and a 12 month high of $49.57.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative net margin of 9.45% and a negative return on equity of 43.11%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. Analysts expect that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

DraftKings Company 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.