Highview Capital Management LLC DE Grows Position in DraftKings Inc. (NASDAQ:DKNG)

Highview Capital Management LLC DE lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,474 shares of the company’s stock after buying an additional 580 shares during the period. Highview Capital Management LLC DE’s holdings in DraftKings were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DKNG. Stonebridge Financial Group LLC purchased a new position in DraftKings in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new position in DraftKings during the fourth quarter worth $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings in the 3rd quarter worth $43,000. V Square Quantitative Management LLC acquired a new stake in DraftKings during the third quarter worth about $46,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of DraftKings by 36.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after buying an additional 320 shares during the last quarter. 37.70% of the stock is owned by hedge funds and other institutional investors.

DraftKings Trading Up 15.2 %

DKNG stock opened at $53.49 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company’s 50 day moving average is $40.54 and its two-hundred day moving average is $38.77.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings results 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 net margin of 9.06% and a negative return on equity of 41.23%. As a group, equities research analysts expect that DraftKings Inc. will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the sale, the insider now directly owns 68,654 shares in the company, valued at approximately $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Robins sold 200,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the completion of the transaction, the insider now directly owns 2,678,613 shares of the company’s stock, valued at approximately $120,537,585. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,163,742 shares of company stock valued at $47,082,888 over the last quarter. Company insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on DKNG shares. Benchmark raised their price objective on DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. Barclays boosted their price target on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Susquehanna lowered their price objective on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of DraftKings in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.64.

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.