DraftKings Inc. (NASDAQ:DKNG) Insider R Stanton Dodge Sells 686,101 Shares

DraftKings Inc. (NASDAQ:DKNGGet Free Report) insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the sale, the insider now owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

R Stanton Dodge also recently made the following trade(s):

  • On Friday, December 1st, R Stanton Dodge sold 52,777 shares of DraftKings stock. The shares were sold at an average price of $38.84, for a total transaction of $2,049,858.68.
  • On Wednesday, November 29th, R Stanton Dodge sold 123,609 shares of DraftKings stock. The shares were sold at an average price of $38.41, for a total transaction of $4,747,821.69.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $43.38 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.29 and a quick ratio of 1.29. DraftKings Inc. has a 1-year low of $15.56 and a 1-year high of $44.04. The company has a market capitalization of $37.27 billion, a P/E ratio of -19.90 and a beta of 1.87. The firm’s 50 day simple moving average is $36.70 and its two-hundred day simple moving average is $33.01.

Hedge Funds Weigh In On DraftKings

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in DraftKings by 8.3% during the fourth quarter. Fifth Third Bancorp now owns 4,331 shares of the company’s stock valued at $153,000 after purchasing an additional 331 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of DraftKings by 4.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 8,082 shares of the company’s stock worth $285,000 after buying an additional 341 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of DraftKings by 7.6% in the third quarter. Signaturefd LLC now owns 5,350 shares of the company’s stock worth $158,000 after buying an additional 379 shares in the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of DraftKings by 3.8% in the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock worth $363,000 after buying an additional 381 shares in the last quarter. Finally, Udine Wealth Management Inc. lifted its holdings in shares of DraftKings by 0.5% in the third quarter. Udine Wealth Management Inc. now owns 79,352 shares of the company’s stock worth $2,336,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 32.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Argus raised their price objective on shares of DraftKings from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, November 27th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of DraftKings in a research note on Tuesday, December 26th. Stifel Nicolaus upgraded shares of DraftKings from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $45.00 in a research note on Friday, January 19th. Benchmark lifted their price target on shares of DraftKings from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Moffett Nathanson upgraded shares of DraftKings from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.56.

Check Out Our Latest Analysis on DraftKings

About DraftKings

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for DraftKings (NASDAQ:DKNG)

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