Tyler Stone Wealth Management Sells 780 Shares of DraftKings Inc. (NASDAQ:DKNG)

Tyler Stone Wealth Management reduced its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,598 shares of the company’s stock after selling 780 shares during the quarter. Tyler Stone Wealth Management’s holdings in DraftKings were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of DraftKings during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in DraftKings during the 4th quarter worth $30,000. Synergy Investment Management LLC bought a new stake in shares of DraftKings during the 4th quarter valued at $37,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the 3rd quarter worth $43,000. Finally, YANKCOM Partnership acquired a new stake in shares of DraftKings during the fourth quarter worth $48,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DKNG has been the topic of several analyst reports. Barclays increased their target price on DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Susquehanna reduced their price objective on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Canaccord Genuity Group upped their target price on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Truist Financial lifted their price target on shares of DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Insider Transactions at DraftKings

In other news, Director Jocelyn Moore sold 3,420 shares of DraftKings stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the completion of the transaction, the director now directly owns 1,612 shares in the company, valued at approximately $67,704. The trade was a 67.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the sale, the insider now owns 2,678,613 shares in the company, valued at approximately $120,537,585. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,131,871 shares of company stock worth $92,171,123 in the last ninety days. Insiders own 51.19% of the company’s stock.

DraftKings Stock Down 3.3 %

DKNG stock opened at $37.68 on Thursday. The company has a market cap of $18.46 billion, a price-to-earnings ratio of -35.55, a P/E/G ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The business has a 50 day moving average price of $42.14 and a two-hundred day moving average price of $40.35. 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 (NASDAQ:DKNG) last released its earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share 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%. Analysts anticipate that DraftKings Inc. will post 0.64 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.