National Bank of Canada FI Has $529,000 Position in DraftKings Inc. (NASDAQ:DKNG)

National Bank of Canada FI trimmed its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 14.2% in the third quarter, Holdings Channel.com reports. The firm owned 13,501 shares of the company’s stock after selling 2,241 shares during the quarter. National Bank of Canada FI’s holdings in DraftKings were worth $529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC raised its holdings in DraftKings by 17.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 10,221 shares of the company’s stock valued at $401,000 after buying an additional 1,537 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of DraftKings by 366.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 27,180 shares of the company’s stock worth $1,065,000 after purchasing an additional 21,355 shares during the period. Sora Investors LLC bought a new stake in shares of DraftKings in the third quarter worth $1,983,000. Stifel Financial Corp increased its holdings in DraftKings by 27.7% in the third quarter. Stifel Financial Corp now owns 195,628 shares of the company’s stock valued at $7,669,000 after purchasing an additional 42,431 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in DraftKings by 34.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,886 shares of the company’s stock worth $662,000 after buying an additional 4,302 shares during the period. Institutional investors own 37.70% of the company’s stock.

Insider Activity at DraftKings

In other DraftKings news, insider Jason Robins sold 3,151 shares of DraftKings stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $43.71, for a total value of $137,730.21. Following the sale, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the sale, the insider now owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. The trade was a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 963,742 shares of company stock valued at $39,668,077. 51.19% of the stock is owned by insiders.

DraftKings Price Performance

DKNG opened at $39.88 on Monday. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $49.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $35.12 billion, a price-to-earnings ratio of -45.32 and a beta of 1.87. The firm’s fifty day moving average price is $40.07 and its two-hundred day moving average price is $37.96.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, analysts anticipate that DraftKings Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of several analyst reports. Macquarie upped their target price on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. JMP Securities upped their price objective on shares of DraftKings from $51.00 to $52.00 and gave the company a “market outperform” rating in a research note on Monday, November 11th. BMO Capital Markets restated an “outperform” rating and issued a $48.00 target price on shares of DraftKings in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Benchmark restated a “buy” rating and set a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

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.