DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,926 shares of the company’s stock after acquiring an additional 489 shares during the period. Metis Global Partners LLC’s holdings in DraftKings were worth $220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of DraftKings by 3.7% in the third quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock valued at $312,361,000 after acquiring an additional 284,131 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in shares of DraftKings in the fourth quarter valued at $246,765,000. FMR LLC lifted its position in shares of DraftKings by 14.7% in the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock valued at $253,509,000 after acquiring an additional 826,626 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after acquiring an additional 1,476,003 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of DraftKings by 6.8% in the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock valued at $144,963,000 after acquiring an additional 236,427 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Trading Down 7.6 %

Shares of NASDAQ DKNG opened at $40.10 on Friday. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The company has a market cap of $19.65 billion, a price-to-earnings ratio of -37.83, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. The stock’s 50 day simple moving average is $42.03 and its 200 day simple moving average is $39.97.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, February 13th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on DKNG shares. Benchmark upped their price objective on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Macquarie upped their price objective on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Stifel Nicolaus increased their target price on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. TD Cowen reduced their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of DraftKings in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insider Activity

In other news, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the transaction, the chief financial officer now directly owns 179,435 shares in the company, valued at approximately $7,611,632.70. This trade represents a 46.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following 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. In the last ninety days, insiders have sold 2,783,488 shares of company stock worth $118,128,867. 51.19% of the stock is owned by company insiders.

DraftKings Company 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.