DraftKings Inc. (NASDAQ:DKNG – Get Rating) insider Jason Robins sold 280,704 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $18.44, for a total value of $5,176,181.76. Following the completion of the sale, the insider now directly owns 6,747,192 shares of the company’s stock, valued at $124,418,220.48. The sale was disclosed in a legal filing with the SEC, which is available through this link.
DraftKings Price Performance
Shares of DKNG stock opened at $18.51 on Friday. The company’s fifty day simple moving average is $16.65 and its two-hundred day simple moving average is $15.25. DraftKings Inc. has a 1 year low of $9.77 and a 1 year high of $21.62. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of -5.84 and a beta of 1.81.
DraftKings (NASDAQ:DKNG – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.10. DraftKings had a negative net margin of 61.51% and a negative return on equity of 87.08%. The business had revenue of $855.00 million for the quarter, compared to analysts’ expectations of $799.29 million. During the same quarter in the previous year, the firm posted ($0.80) EPS. The business’s revenue for the quarter was up 80.8% compared to the same quarter last year. Equities research analysts anticipate that DraftKings Inc. will post -2.07 EPS for the current year.
Analyst Ratings Changes
Institutional Investors Weigh In On DraftKings
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in DraftKings by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 34,631,603 shares of the company’s stock valued at $524,322,000 after acquiring an additional 2,121,342 shares during the period. ARK Investment Management LLC increased its holdings in shares of DraftKings by 1.3% in the fourth quarter. ARK Investment Management LLC now owns 25,032,084 shares of the company’s stock worth $285,115,000 after purchasing an additional 314,790 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of DraftKings by 6.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,991,943 shares of the company’s stock worth $159,368,000 after purchasing an additional 798,877 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of DraftKings by 6.1% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 13,991,943 shares of the company’s stock worth $159,368,000 after purchasing an additional 798,877 shares during the period. Finally, Contrarius Investment Management Ltd bought a new position in shares of DraftKings in the second quarter worth $69,110,000. Institutional investors own 30.60% of the company’s stock.
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
- Get a free copy of the StockNews.com research report on DraftKings (DKNG)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.