DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 200,000 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of the sale, the insider now directly owns 2,678,613 shares of the company’s stock, valued at approximately $120,537,585. This represents a 6.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Jason Robins also recently made the following trade(s):

• On Thursday, November 21st, Jason Robins sold 3,151 shares of DraftKings stock. The shares were sold at an average price of $43.71, for a total transaction of $137,730.21.

DraftKings Trading Up 15.2 %

DKNG opened at $53.49 on Friday. The stock has a market capitalization of $26.08 billion, a P/E ratio of -60.78, a P/E/G ratio of 3.18 and a beta of 1.93. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The firm’s fifty day simple moving average is $40.36 and its 200 day simple moving average is $38.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data 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 9.06% and a negative return on equity of 41.23%. As a group, research analysts anticipate that DraftKings Inc. will post -0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On DraftKings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in DraftKings by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company’s stock worth $1,602,327,000 after buying an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in DraftKings by 4.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company’s stock worth $690,791,000 after buying an additional 707,504 shares in the last quarter. FMR LLC lifted its position in DraftKings by 110.6% during the 4th quarter. FMR LLC now owns 13,617,448 shares of the company’s stock worth $506,569,000 after buying an additional 7,150,382 shares in the last quarter. Geode Capital Management LLC lifted its position in DraftKings by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company’s stock worth $299,921,000 after buying an additional 89,988 shares in the last quarter. Finally, Norges Bank bought a new stake in DraftKings during the 4th quarter worth about $276,328,000. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DKNG shares. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of DraftKings in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a report on Friday. Mizuho lifted their target price on shares of DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Macquarie lifted their target price on shares of DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Barclays lifted their target price on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.58.

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.