WR Wealth Planners LLC Has $96,000 Holdings in DraftKings Inc. (NASDAQ:DKNG)

WR Wealth Planners LLC lessened its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 57.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,589 shares of the company’s stock after selling 3,566 shares during the quarter. WR Wealth Planners LLC’s holdings in DraftKings were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of DraftKings by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock worth $312,361,000 after purchasing an additional 284,131 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of DraftKings during the 4th quarter worth approximately $246,765,000. FMR LLC lifted its position in shares of DraftKings by 14.7% during the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after buying an additional 826,626 shares during the period. Fred Alger Management LLC lifted its position in shares of DraftKings by 46.6% during the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock worth $182,039,000 after buying an additional 1,476,003 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in shares of DraftKings by 6.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after buying an additional 236,427 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Buying and Selling

In other DraftKings news, insider Jason Robins sold 666,651 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $28,279,335.42. Following the completion of the transaction, the insider now directly owns 3,336,195 shares of the company’s stock, valued at approximately $141,521,391.90. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the transaction, the chief financial officer now directly owns 179,435 shares of the company’s stock, valued at approximately $7,611,632.70. The trade was a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,573,488 shares of company stock valued at $109,600,767 over the last three months. Company insiders own 51.19% of the company’s stock.

DraftKings Trading Up 2.6 %

DKNG stock opened at $43.86 on Friday. The company has a market cap of $21.49 billion, a P/E ratio of -41.38, a PEG ratio of 1.43 and a beta of 1.93. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $41.78 and a 200-day moving average of $39.79.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. As a group, equities research analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on DKNG shares. Morgan Stanley raised their target price on DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Wells Fargo & Company raised their target price on DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Truist Financial raised their target price on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. TD Cowen cut their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Benchmark raised their target price on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.44.

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.