DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its position in DraftKings Inc. (NASDAQ:DKNG) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,176 shares of the company’s stock after selling 4,250 shares during the quarter. Natixis Advisors LLC’s holdings in DraftKings were worth $1,681,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of DraftKings during the fourth quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in DraftKings during the 4th quarter worth approximately $30,000. Synergy Investment Management LLC purchased a new position in shares of DraftKings during the 4th quarter worth approximately $37,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings in the 3rd quarter valued at approximately $43,000. Finally, YANKCOM Partnership purchased a new stake in shares of DraftKings in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $40.52 on Tuesday. The stock has a market capitalization of $19.85 billion, a price-to-earnings ratio of -38.23, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. 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 Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The stock’s fifty day simple moving average is $42.18 and its 200-day simple moving average is $40.34.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) 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 expect that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DKNG shares. Barclays raised their target price on DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley boosted their price objective on shares of DraftKings from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Canaccord Genuity Group increased their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 14th. BTIG Research set a $59.00 price target on DraftKings in a research note on Monday, February 3rd. Finally, Truist Financial raised their price objective on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insiders Place Their Bets

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.00, for a total transaction of $2,058,303.00. Following the completion of the sale, the insider now directly owns 653,843 shares in the company, valued at $25,499,877. This represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the completion of the transaction, the insider now directly owns 1,342,722 shares in the company, valued at $52,366,158. This represents a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,663,966 shares of company stock valued at $112,550,362 over the last quarter. Company insiders own 51.19% of the company’s stock.

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.