Fmr LLC Has $253.51 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Fmr LLC boosted its stake in DraftKings Inc. (NASDAQ:DKNG) by 14.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,467,066 shares of the company’s stock after buying an additional 826,626 shares during the period. Fmr LLC owned approximately 0.74% of DraftKings worth $253,509,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of DraftKings by 53.3% in the second quarter. Marshall Wace LLP now owns 9,410,431 shares of the company’s stock valued at $359,196,000 after purchasing an additional 3,269,932 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in DraftKings by 8.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,777,271 shares of the company’s stock valued at $220,518,000 after buying an additional 441,975 shares in the last quarter. AQR Capital Management LLC increased its position in DraftKings by 29.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,877,581 shares of the company’s stock worth $144,905,000 after buying an additional 870,789 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of DraftKings by 6.8% during the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after buying an additional 236,427 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of DraftKings by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock valued at $124,470,000 after acquiring an additional 86,336 shares during the period. 37.70% of the stock is owned by institutional investors.

DraftKings Stock Performance

Shares of DKNG stock opened at $43.65 on Monday. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of -49.60 and a beta of 1.82. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $39.36 and its 200-day moving average price is $37.86. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate 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. Equities research analysts forecast that DraftKings Inc. will post -0.79 EPS for the current year.

Insider Activity at DraftKings

In other news, insider Jason Robins sold 3,151 shares of the company’s stock in a transaction on 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 directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $41.24, for a total transaction of $26,544,290.96. Following the transaction, the insider now directly owns 137,308 shares of the company’s stock, valued at $5,662,581.92. This represents a 82.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 735,246 shares of company stock worth $29,902,158 over the last three months. Company insiders own 51.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price target on shares of DraftKings from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus reissued a “buy” rating and set a $48.00 price target (down previously from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and issued a $50.00 price objective on shares of DraftKings in a report on Wednesday, August 14th. Finally, UBS Group increased their target price on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.04.

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.