DraftKings Target of Unusually Large Options Trading (NASDAQ:DKNG)

DraftKings Inc. (NASDAQ:DKNGGet Free Report) was the recipient of unusually large options trading on Friday. Stock traders bought 113,910 call options on the stock. This is an increase of 50% compared to the average volume of 76,022 call options.

Insider Buying and Selling

In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $43.06, for a total value of $29,543,509.06. Following the transaction, the insider now directly owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jason Robins sold 238,629 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $35.65, for a total value of $8,507,123.85. Following the completion of the sale, the insider now directly owns 3,760,519 shares in the company, valued at approximately $134,062,502.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the sale, the insider now owns 200,239 shares of the company’s stock, valued at $8,622,291.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,390,485 shares of company stock valued at $132,291,151. Corporate insiders own 51.19% of the company’s stock.

Institutional Trading of DraftKings

Several institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp grew its stake in shares of DraftKings by 8.3% during the fourth quarter. Fifth Third Bancorp now owns 4,331 shares of the company’s stock worth $153,000 after purchasing an additional 331 shares during the period. Cornerstone Wealth Management LLC raised its holdings in DraftKings by 4.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 8,082 shares of the company’s stock worth $285,000 after acquiring an additional 341 shares in the last quarter. Signaturefd LLC raised its holdings in DraftKings by 7.6% during the third quarter. Signaturefd LLC now owns 5,350 shares of the company’s stock worth $158,000 after acquiring an additional 379 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in DraftKings by 3.8% in the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock valued at $363,000 after buying an additional 381 shares during the period. Finally, Udine Wealth Management Inc. raised its stake in DraftKings by 0.5% in the third quarter. Udine Wealth Management Inc. now owns 79,352 shares of the company’s stock valued at $2,336,000 after buying an additional 384 shares during the period. Institutional investors and hedge funds own 32.84% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $43.38 on Friday. DraftKings has a 1-year low of $15.56 and a 1-year high of $44.04. The firm has a market capitalization of $37.27 billion, a PE ratio of -19.90 and a beta of 1.87. The business’s 50 day moving average is $36.70 and its 200-day moving average is $33.00. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.56.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Argus boosted 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. UBS Group upped their price objective on DraftKings from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Benchmark upped their price objective on DraftKings from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Susquehanna boosted their price target on DraftKings from $37.00 to $42.00 and gave the stock a “positive” rating in a research report on Monday, November 13th. Finally, BMO Capital Markets assumed coverage on DraftKings in a research report on Tuesday, January 9th. They set an “outperform” rating and a $43.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.56.

Read Our Latest Stock Report on DKNG

DraftKings Company Profile

(Get 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.

Featured Articles

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.