DraftKings Inc. (NASDAQ:DKNG) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its position in DraftKings Inc. (NASDAQ:DKNGFree Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,904 shares of the company’s stock after selling 1,109 shares during the quarter. HB Wealth Management LLC’s holdings in DraftKings were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DKNG. Pine Valley Investments Ltd Liability Co boosted its position in DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after acquiring an additional 249 shares during the last quarter. Claro Advisors LLC lifted its stake in DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after purchasing an additional 264 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of DraftKings by 0.6% during the 3rd quarter. Global Retirement Partners LLC now owns 47,067 shares of the company’s stock worth $1,845,000 after purchasing an additional 273 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC lifted its position in DraftKings by 3.8% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 9,670 shares of the company’s stock worth $360,000 after buying an additional 355 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the transaction, the insider now directly owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the completion of the transaction, the insider now owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 963,742 shares of company stock valued at $38,082,888 in the last quarter. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Stock Down 0.4 %

Shares of NASDAQ:DKNG opened at $41.34 on Friday. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm’s 50-day simple moving average is $40.56 and its 200-day simple moving average is $38.07. The company has a market cap of $36.41 billion, a price-to-earnings ratio of -46.98, a PEG ratio of 3.07 and a beta of 1.90.

DraftKings (NASDAQ:DKNGGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) earnings per share 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, equities research analysts predict that DraftKings Inc. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays raised their target price on DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. TD Cowen raised their price objective on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Susquehanna cut their price target on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JMP Securities reduced their target price on shares of DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price objective on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.08.

Read Our Latest Research Report on DKNG

DraftKings Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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