Ieq Capital LLC trimmed its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,667 shares of the company's stock after selling 9,641 shares during the quarter. Ieq Capital LLC's holdings in DraftKings were worth $6,684,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in DraftKings during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new position in shares of DraftKings during the 4th quarter valued at approximately $30,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings during the 3rd quarter valued at $43,000. Creative Financial Designs Inc. ADV raised its holdings in DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company's stock valued at $47,000 after buying an additional 320 shares during the period. Finally, YANKCOM Partnership bought a new stake in DraftKings in the fourth quarter worth $48,000. Institutional investors own 37.70% of the company's stock.
In other news, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the transaction, the insider now owns 68,654 shares of the company's stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of the 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 sale, the insider now directly owns 2,678,613 shares of the company's stock, valued at $120,537,585. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,160,591 shares of company stock worth $46,945,158. 51.19% of the stock is owned by corporate insiders.
Shares of NASDAQ:DKNG opened at $49.44 on Friday. The firm has a 50 day moving average of $41.30 and a 200 day moving average of $39.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $24.22 billion, a price-to-earnings ratio of -46.64, a price-to-earnings-growth ratio of 2.06 and a beta of 1.93. DraftKings Inc. has a 52 week low of $28.69 and a 52 week high of $53.61.
DraftKings (NASDAQ:DKNG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 47.48%. On average, sell-side analysts predict that DraftKings Inc. will post 0.46 earnings per share for the current fiscal year.
A number of research analysts have weighed in on DKNG shares. Benchmark boosted their price objective on shares of DraftKings from $44.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Barclays upped their price target on shares of DraftKings from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Tuesday. Piper Sandler reissued an "overweight" rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of DraftKings in a research report on Friday, February 14th. Finally, Wells Fargo & Company increased their price target on DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.69.
Check Out Our Latest Analysis on DraftKings
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.
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