DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of DraftKings Inc. (NASDAQ:DKNGFree Report) by 19.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,111 shares of the company’s stock after selling 3,168 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in DraftKings were worth $386,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Marshall Wace LLP increased its stake in DraftKings by 298.2% in the 2nd quarter. Marshall Wace LLP now owns 1,114,676 shares of the company’s stock worth $29,617,000 after purchasing an additional 834,719 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in DraftKings in the 3rd quarter worth about $4,502,000. Jericho Capital Asset Management L.P. increased its stake in DraftKings by 68.1% in the 2nd quarter. Jericho Capital Asset Management L.P. now owns 5,131,967 shares of the company’s stock worth $136,356,000 after purchasing an additional 2,079,676 shares in the last quarter. Deltec Asset Management LLC grew its stake in DraftKings by 355.7% during the 3rd quarter. Deltec Asset Management LLC now owns 139,000 shares of the company’s stock valued at $4,092,000 after acquiring an additional 108,500 shares in the last quarter. Finally, TD Asset Management Inc purchased a new position in DraftKings during the 3rd quarter valued at about $795,000. 32.84% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Stock Performance

Shares of NASDAQ:DKNG opened at $43.38 on Friday. The business’s fifty day moving average price is $36.70 and its two-hundred day moving average price is $32.99. DraftKings Inc. has a fifty-two week low of $15.56 and a fifty-two week high of $44.04. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of -19.90 and a beta of 1.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.29 and a quick ratio of 1.29.

Wall Street Analyst Weigh In

DKNG has been the subject of several research reports. Moffett Nathanson upgraded DraftKings from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, October 24th. BNP Paribas lowered DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Friday, January 19th. Argus lifted their price target on DraftKings from $40.00 to $46.00 and gave the company a “buy” rating in a report on Monday, November 27th. Guggenheim lifted their price target on DraftKings from $39.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, UBS Group boosted their target price on DraftKings from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.56.

Read Our Latest Analysis on DraftKings

Insider Buying and Selling at DraftKings

In other DraftKings news, CFO Jason Park sold 750,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $38.27, for a total value of $28,702,500.00. Following the sale, the chief financial officer now directly owns 105,217 shares in the company, valued at $4,026,654.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DraftKings news, insider R Stanton Dodge sold 123,609 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $38.41, for a total value of $4,747,821.69. Following the sale, the insider now directly owns 823,149 shares in the company, valued at $31,617,153.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Park sold 750,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $38.27, for a total value of $28,702,500.00. Following the sale, the chief financial officer now owns 105,217 shares in the company, valued at approximately $4,026,654.59. The disclosure for this sale can be found here. Insiders have sold 3,390,485 shares of company stock worth $132,291,151 over the last three months. Company insiders own 51.19% of the company’s stock.

DraftKings Profile

(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.

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Institutional Ownership by Quarter for DraftKings (NASDAQ:DKNG)

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