DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,856 shares of the company’s stock after acquiring an additional 8,491 shares during the period. Atria Wealth Solutions Inc.’s holdings in DraftKings were worth $1,546,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DKNG. Asset Management One Co. Ltd. acquired a new stake in DraftKings in the 3rd quarter worth about $4,502,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in DraftKings in the 3rd quarter worth about $3,147,000. SVB Wealth LLC boosted its stake in DraftKings by 2.1% in the 3rd quarter. SVB Wealth LLC now owns 117,471 shares of the company’s stock worth $3,458,000 after buying an additional 2,428 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in DraftKings by 8.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 89,121 shares of the company’s stock worth $2,624,000 after buying an additional 6,965 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in DraftKings by 178.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 48,022 shares of the company’s stock worth $1,414,000 after buying an additional 30,802 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the completion of the transaction, the insider now owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider R Stanton Dodge sold 686,101 shares of the business’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 transaction of $29,543,509.06. Following the completion of the transaction, the insider now owns 200,239 shares in the company, valued at approximately $8,622,291.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00. Following the transaction, the insider now owns 3,195,812 shares of the company’s stock, valued at approximately $130,676,752.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,086,101 shares of company stock worth $45,903,509. 51.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on DKNG. BNP Paribas lowered DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Friday, January 19th. Susquehanna raised their price objective on DraftKings from $54.00 to $56.00 and gave the stock a “positive” rating in a report on Monday. Moffett Nathanson raised their price objective on DraftKings from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. JMP Securities restated a “market outperform” rating and issued a $52.00 price objective on shares of DraftKings in a report on Monday, March 25th. Finally, Bank Of America (Bofa) raised their price objective on DraftKings from $45.00 to $50.00 in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.38.

DraftKings Price Performance

DKNG stock opened at $41.56 on Wednesday. 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 Inc. has a 52-week low of $21.07 and a 52-week high of $49.57. The stock’s 50 day moving average is $43.51 and its two-hundred day moving average is $38.65. The company has a market capitalization of $36.02 billion, a PE ratio of -23.75 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.16). The firm had revenue of $1.23 billion during 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%. DraftKings’s revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) EPS. Analysts predict that DraftKings Inc. will post -0.24 earnings per share for the current fiscal year.

DraftKings Company Profile

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.