DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by Xponance Inc.

Xponance Inc. raised its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,753 shares of the company’s stock after purchasing an additional 3,760 shares during the period. Xponance Inc.’s holdings in DraftKings were worth $3,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in DraftKings during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new stake in DraftKings during the fourth quarter worth approximately $30,000. Synergy Investment Management LLC purchased a new stake in DraftKings during the fourth quarter worth approximately $37,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings during the third quarter worth approximately $43,000. Finally, YANKCOM Partnership purchased a new stake in DraftKings during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DKNG. Wells Fargo & Company boosted their price objective on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Argus set a $60.00 price objective on shares of DraftKings in a research note on Tuesday, February 18th. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a research note on Friday, February 14th. Benchmark upped their target price on shares of DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.44.

DraftKings Stock Down 0.3 %

Shares of NASDAQ:DKNG opened at $38.44 on Friday. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of -36.26, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The company’s fifty day moving average is $42.17 and its two-hundred day moving average is $40.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Equities analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Insider Buying and Selling

In other DraftKings news, insider Matthew Kalish sold 587,585 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $47.05, for a total transaction of $27,645,874.25. Following the transaction, the insider now owns 4,118,927 shares of the company’s stock, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 666,651 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now directly owns 3,336,195 shares in the company, valued at approximately $141,521,391.90. The trade was a 16.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,663,966 shares of company stock valued at $112,550,362 in the last quarter. Company insiders own 51.19% of the company’s stock.

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.