DraftKings Inc. (NASDAQ:DKNG) Stock Holdings Lessened by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its stake in DraftKings Inc. (NASDAQ:DKNG) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,361 shares of the company’s stock after selling 2,077 shares during the period. Valeo Financial Advisors LLC’s holdings in DraftKings were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new stake in DraftKings during the 4th quarter valued at $678,000. Cerity Partners LLC raised its stake in DraftKings by 9.4% during the 4th quarter. Cerity Partners LLC now owns 19,809 shares of the company’s stock valued at $698,000 after purchasing an additional 1,702 shares during the period. Peregrine Capital Management LLC raised its stake in DraftKings by 9.0% during the 4th quarter. Peregrine Capital Management LLC now owns 1,018,938 shares of the company’s stock valued at $35,918,000 after purchasing an additional 84,347 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in DraftKings during the 4th quarter valued at $5,797,000. Finally, International Assets Investment Management LLC acquired a new stake in DraftKings during the 4th quarter valued at $226,000. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the completion of the transaction, the insider now owns 3,815,698 shares in the company, valued at $144,309,698.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider R Stanton Dodge sold 686,101 shares of DraftKings 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 transaction, the insider now owns 200,239 shares in the company, valued at $8,622,291.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the completion of the transaction, the insider now owns 3,815,698 shares of the company’s stock, valued at approximately $144,309,698.36. The disclosure for this sale can be found here. Insiders sold a total of 1,596,101 shares of company stock worth $65,685,509 over the last quarter. Company insiders own 51.19% of the company’s stock.

DraftKings Stock Up 2.8 %

DKNG stock opened at $44.94 on Wednesday. DraftKings Inc. has a twelve month low of $19.10 and a twelve month high of $49.57. The company has a market cap of $38.95 billion, a PE ratio of -25.68 and a beta of 1.86. The business’s 50-day simple moving average is $43.87 and its 200 day simple moving average is $37.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, February 16th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period last year, the business earned ($0.53) earnings per share. On average, research analysts anticipate that DraftKings Inc. will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of DraftKings from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Morgan Stanley upped their price objective on shares of DraftKings from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Needham & Company LLC upped their price objective on shares of DraftKings from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Wells Fargo & Company upped their price objective on shares of DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, Moffett Nathanson upped their price objective on shares of DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.93.

About 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.