Bokf Na Purchases 23,848 Shares of DraftKings Inc. (NASDAQ:DKNG)

Bokf Na boosted its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 2,193.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,935 shares of the company’s stock after buying an additional 23,848 shares during the period. Bokf Na’s holdings in DraftKings were worth $1,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in DraftKings by 15.1% during the fourth quarter. Raymond James & Associates now owns 431,385 shares of the company’s stock valued at $15,206,000 after purchasing an additional 56,674 shares during the period. Pacer Advisors Inc. raised its holdings in shares of DraftKings by 84.6% in the fourth quarter. Pacer Advisors Inc. now owns 3,802 shares of the company’s stock worth $134,000 after buying an additional 1,742 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of DraftKings in the fourth quarter worth approximately $2,710,000. Blue Trust Inc. raised its holdings in shares of DraftKings by 489.4% in the fourth quarter. Blue Trust Inc. now owns 2,611 shares of the company’s stock worth $92,000 after buying an additional 2,168 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of DraftKings by 2.7% in the fourth quarter. Global Retirement Partners LLC now owns 29,514 shares of the company’s stock worth $993,000 after buying an additional 772 shares during the period. 37.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DKNG has been the topic of several research reports. BMO Capital Markets raised their price objective on DraftKings from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Berenberg Bank upgraded DraftKings to a “hold” rating in a report on Friday, May 31st. Wells Fargo & Company reduced their price objective on DraftKings from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Jefferies Financial Group raised their price objective on DraftKings from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price objective on shares of DraftKings in a report on Friday, July 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 63,206 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the transaction, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul Liberman sold 63,206 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $39.00, for a total value of $2,465,034.00. Following the sale, the insider now directly owns 1,716,406 shares in the company, valued at $66,939,834. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $43.59, for a total value of $8,718,000.00. Following the completion of the sale, the insider now owns 2,668,954 shares in the company, valued at $116,339,704.86. The disclosure for this sale can be found here. Insiders have sold 1,383,546 shares of company stock worth $55,279,617 over the last ninety days. Corporate insiders own 51.19% of the company’s stock.

DraftKings Trading Up 0.3 %

DraftKings stock traded up $0.12 during mid-day trading on Monday, hitting $36.42. The company’s stock had a trading volume of 1,237,947 shares, compared to its average volume of 10,797,352. The firm has a market capitalization of $31.66 billion, a PE ratio of -30.76 and a beta of 1.81. DraftKings Inc. has a 1 year low of $25.41 and a 1 year high of $49.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. The stock’s fifty day moving average is $38.43 and its two-hundred day moving average is $40.97.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company posted ($0.87) earnings per share. The company’s revenue was up 52.7% on a year-over-year basis. On average, analysts anticipate that DraftKings Inc. will post -0.31 EPS for the current year.

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.