SBI Securities Co. Ltd. Takes $250,000 Position in DraftKings Inc. (NASDAQ:DKNG)

SBI Securities Co. Ltd. purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,718 shares of the company’s stock, valued at approximately $250,000.

Other large investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter valued at about $30,000. Delos Wealth Advisors LLC purchased a new position in shares of DraftKings during the 3rd quarter valued at about $43,000. YANKCOM Partnership purchased a new position in shares of DraftKings during the 4th quarter valued at about $48,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of DraftKings during the 4th quarter valued at about $58,000. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the transaction, the insider now directly owns 2,678,613 shares in the company, valued at $120,537,585. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,783,488 shares of company stock valued at $118,128,867. Insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

Shares of NASDAQ:DKNG opened at $43.41 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.93 and a quick ratio of 1.00. The business’s 50 day moving average price is $42.00 and its 200-day moving average price is $39.97. The firm has a market capitalization of $21.27 billion, a PE ratio of -40.95, a P/E/G ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (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 earnings per share for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of a number of research reports. Susquehanna decreased their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC set a $65.00 price objective on DraftKings in a report on Tuesday, February 18th. Truist Financial lifted their price target on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Finally, BTIG Research set a $59.00 price target on DraftKings in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.