DraftKings Inc. (NASDAQ:DKNG – Get Free Report) insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $40.91, for a total value of $8,182,000.00. Following the transaction, the insider now directly owns 3,043,231 shares in the company, valued at approximately $124,498,580.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Jason Robins also recently made the following trade(s):
- On Wednesday, February 21st, Jason Robins sold 200,000 shares of DraftKings stock. The shares were sold at an average price of $40.89, for a total value of $8,178,000.00.
DraftKings Stock Performance
Shares of NASDAQ DKNG opened at $43.13 on Friday. The stock has a 50 day moving average price of $43.54 and a 200 day moving average price of $38.35. DraftKings Inc. has a 52 week low of $20.26 and a 52 week high of $49.57. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $37.38 billion, a PE ratio of -24.65 and a beta of 1.86.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of DKNG. Highlander Capital Management LLC boosted its position in DraftKings by 180.0% during the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $26,000. Montag A & Associates Inc. acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in shares of DraftKings in the first quarter valued at approximately $33,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $37,000. 37.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on DKNG shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $55.00 target price on shares of DraftKings in a research note on Thursday, March 28th. Wells Fargo & Company increased their target price on DraftKings from $39.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Bank Of America (Bofa) increased their target price on DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Morgan Stanley increased their target price on DraftKings from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Moffett Nathanson increased their target price on DraftKings from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.31.
Get Our Latest Analysis on DraftKings
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.
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