DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its holdings in DraftKings Inc. (NASDAQ:DKNG – Get Rating) by 7.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 331,482 shares of the company’s stock after selling 28,625 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in DraftKings were worth $3,776,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in DKNG. Armstrong Advisory Group Inc. purchased a new stake in shares of DraftKings during the 4th quarter valued at $25,000. Ellevest Inc. boosted its position in DraftKings by 1,005.5% during the 3rd quarter. Ellevest Inc. now owns 2,012 shares of the company’s stock worth $30,000 after purchasing an additional 1,830 shares during the period. Baystate Wealth Management LLC boosted its position in DraftKings by 229.4% during the 4th quarter. Baystate Wealth Management LLC now owns 3,294 shares of the company’s stock worth $38,000 after purchasing an additional 2,294 shares during the period. FourThought Financial LLC boosted its position in DraftKings by 2,409.8% during the 3rd quarter. FourThought Financial LLC now owns 3,087 shares of the company’s stock worth $47,000 after purchasing an additional 2,964 shares during the period. Finally, Capital Impact Advisors LLC purchased a new position in DraftKings in the 3rd quarter valued at about $58,000. 30.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DraftKings

In other news, CFO Jason Park sold 112,575 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $20.23, for a total transaction of $2,277,392.25. Following the completion of the sale, the chief financial officer now directly owns 786,539 shares in the company, valued at $15,911,683.97. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Jason Park sold 112,575 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $20.23, for a total transaction of $2,277,392.25. Following the transaction, the chief financial officer now directly owns 786,539 shares of the company’s stock, valued at $15,911,683.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 177,011 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $18.84, for a total transaction of $3,334,887.24. Following the transaction, the insider now directly owns 600,074 shares in the company, valued at $11,305,394.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,044,973 shares of company stock worth $41,001,942. 51.19% of the stock is currently owned by company insiders.

DraftKings Trading Up 0.5 %

Shares of DraftKings stock opened at $24.11 on Friday. The company has a 50 day moving average of $20.38 and a 200-day moving average of $16.85. DraftKings Inc. has a 1-year low of $10.52 and a 1-year high of $25.34. The company has a market cap of $20.61 billion, a PE ratio of -8.31 and a beta of 1.80.

DraftKings (NASDAQ:DKNG – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. DraftKings had a negative net margin of 50.42% and a negative return on equity of 94.41%. The business had revenue of $855.00 million during the quarter, compared to analysts’ expectations of $799.29 million. During the same period in the prior year, the company earned ($0.80) EPS. The firm’s quarterly revenue was up 80.8% compared to the same quarter last year. Research analysts forecast that DraftKings Inc. will post -1.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DKNG shares. Needham & Company LLC upped their price objective on shares of DraftKings from $20.00 to $28.00 in a research report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of DraftKings from $15.00 to $22.00 in a research note on Monday, May 8th. Citigroup increased their price objective on shares of DraftKings from $25.00 to $30.00 in a research note on Sunday, May 14th. Guggenheim upped their target price on shares of DraftKings from $27.00 to $32.00 in a research report on Monday, May 8th. Finally, MKM Partners cut shares of DraftKings from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a report on Thursday, February 9th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.62.

DraftKings Company Profile

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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.