DraftKings Inc. (NASDAQ:DKNG) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 2.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,972 shares of the company’s stock after buying an additional 569 shares during the period. D.A. Davidson & CO.’s holdings in DraftKings were worth $940,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its position in DraftKings by 0.6% in 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. Hexagon Capital Partners LLC raised its stake in DraftKings by 21.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,651 shares of the company’s stock valued at $63,000 after acquiring an additional 286 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after acquiring an additional 320 shares during the period. Brown Lisle Cummings Inc. grew its stake in shares of DraftKings by 32.5% in the second quarter. Brown Lisle Cummings Inc. now owns 1,325 shares of the company’s stock worth $51,000 after purchasing an additional 325 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its holdings in shares of DraftKings by 18.3% during the second quarter. HighMark Wealth Management LLC now owns 2,129 shares of the company’s stock valued at $81,000 after purchasing an additional 329 shares during the period. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of DraftKings in a research report on Monday, October 7th. Truist Financial reiterated a “buy” rating and issued a $50.00 price objective on shares of DraftKings in a report on Wednesday, August 14th. Stifel Nicolaus reissued a “buy” rating and set a $48.00 target price (down previously from $50.00) on shares of DraftKings in a report on Monday, August 5th. TD Cowen increased their price target on DraftKings from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $48.00 price objective on shares of DraftKings in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.04.

DraftKings Price Performance

DKNG opened at $43.65 on Monday. The firm has a market capitalization of $38.44 billion, a P/E ratio of -49.60 and a beta of 1.82. The stock has a fifty day moving average of $39.36 and a 200-day moving average of $37.86. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.60) 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities analysts forecast that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jason Robins sold 3,151 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $36.41, for a total value of $3,220,136.81. Following the sale, the insider now owns 1,923,483 shares of the company’s stock, valued at approximately $70,034,016.03. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 735,246 shares of company stock worth $29,902,158. 51.19% of the stock is owned by company insiders.

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.