Achmea Investment Management B.V. bought a new stake in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 44,879 shares of the company’s stock, valued at approximately $1,669,000.
Several other hedge funds also recently added to or reduced their stakes in DKNG. Principal Financial Group Inc. increased its position in DraftKings by 14.6% during the 3rd quarter. Principal Financial Group Inc. now owns 234,768 shares of the company’s stock valued at $9,203,000 after buying an additional 29,991 shares in the last quarter. Atria Investments Inc acquired a new position in DraftKings during the 3rd quarter valued at about $215,000. Oppenheimer Asset Management Inc. increased its holdings in shares of DraftKings by 79.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,566 shares of the company’s stock valued at $1,041,000 after purchasing an additional 11,734 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of DraftKings by 4.6% in the third quarter. Oppenheimer & Co. Inc. now owns 76,248 shares of the company’s stock valued at $2,989,000 after purchasing an additional 3,367 shares during the period. Finally, KBC Group NV increased its holdings in shares of DraftKings by 8.3% in the third quarter. KBC Group NV now owns 30,084 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,318 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Jocelyn Moore sold 3,420 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the completion of the sale, the director now owns 1,612 shares of the company’s stock, valued at approximately $67,704. This trade represents a 67.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Kalish sold 587,585 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $47.05, for a total value of $27,645,874.25. Following the completion of the sale, the insider now directly owns 4,118,927 shares of the company’s stock, valued at approximately $193,795,515.35. This represents a 12.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,558,412 shares of company stock worth $108,506,588 over the last quarter. 51.19% of the stock is currently owned by corporate insiders.
DraftKings Stock Performance
DraftKings (NASDAQ:DKNG – Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities research analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on DKNG shares. TD Cowen cut their price objective on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Argus set a $60.00 price objective on DraftKings in a report on Tuesday, February 18th. Needham & Company LLC set a $65.00 price objective on DraftKings in a report on Tuesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.44.
Check Out Our Latest Research Report on DKNG
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.
Further Reading
- Five stocks we like better than DraftKings
- What is a penny stock? A comprehensive guide
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- What is Forex and How Does it Work?
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- The 3 Best Fintech Stocks to Buy Now
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Free Report).
Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.