DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,198 shares of the company’s stock after acquiring an additional 1,986 shares during the quarter. Claro Advisors LLC’s holdings in DraftKings were worth $656,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of DraftKings during the first quarter valued at approximately $31,000. LifeSteps Financial Inc. acquired a new position in DraftKings during the 1st quarter valued at approximately $33,000. Transcendent Capital Group LLC bought a new position in DraftKings during the 4th quarter worth $26,000. Concord Wealth Partners increased its position in DraftKings by 140.2% in the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after buying an additional 453 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in DraftKings in the fourth quarter worth $29,000. Institutional investors own 37.70% of the company’s stock.

Analyst Ratings Changes

DKNG has been the subject of several analyst reports. Berenberg Bank raised shares of DraftKings to a “hold” rating in a report on Friday, May 31st. Jefferies Financial Group upped their target price on shares of DraftKings from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of DraftKings in a report on Wednesday, August 14th. Susquehanna decreased their price objective on DraftKings from $49.00 to $47.00 and set a “positive” rating for the company in a report on Thursday, August 1st. Finally, Guggenheim lowered their target price on DraftKings from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.56.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 668,890 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total value of $25,972,998.70. Following the completion of the transaction, the insider now directly owns 205,962 shares in the company, valued at $7,997,504.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Jocelyn Moore sold 1,450 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $35.92, for a total value of $52,084.00. Following the completion of the sale, the director now owns 6,814 shares of the company’s stock, valued at $244,758.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Liberman sold 668,890 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $38.83, for a total value of $25,972,998.70. Following the completion of the sale, the insider now directly owns 205,962 shares of the company’s stock, valued at $7,997,504.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,471,987 shares of company stock worth $54,373,654. Company insiders own 51.19% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $34.50 on Monday. The company has a market capitalization of $30.31 billion, a PE ratio of -29.24 and a beta of 1.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $35.59 and a 200-day moving average of $40.01. DraftKings Inc. has a one year low of $25.73 and a one year high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. DraftKings’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities analysts anticipate that DraftKings Inc. will post -0.31 EPS for the current fiscal year.

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.