DraftKings Inc. (NASDAQ:DKNG) Insider R Stanton Dodge Sells 52,777 Shares

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $37.62, for a total value of $1,985,470.74. Following the completion of the transaction, the insider now owns 706,620 shares in the company, valued at approximately $26,583,044.40. The trade was a 6.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

R Stanton Dodge also recently made the following trade(s):

• On Monday, March 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $39.00, for a total value of $2,058,303.00.

DraftKings Stock Down 4.7 %

Shares of NASDAQ DKNG opened at $36.91 on Wednesday. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of -34.82, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61. The firm has a 50-day moving average price of $42.16 and a 200 day moving average price of $40.21. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG) last posted 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 net margin of 10.64% and a negative return on equity of 48.13%. Equities research analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of DraftKings

Large investors have recently bought and sold shares of the company. Raiffeisen Bank International AG acquired a new position in shares of DraftKings during the 4th quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in DraftKings during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of DraftKings in the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $30,000. Finally, Synergy Investment Management LLC purchased a new position in shares of DraftKings during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DKNG shares. Wells Fargo & Company boosted their price objective on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price objective on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Benchmark boosted their target price on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus increased their price objective on DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.44.

About DraftKings

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.