Stephens Inc. AR Reduces Holdings in DraftKings Inc. (NASDAQ:DKNG)

Stephens Inc. AR lessened its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,678 shares of the company’s stock after selling 2,600 shares during the quarter. Stephens Inc. AR’s holdings in DraftKings were worth $1,141,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new stake in DraftKings during the fourth quarter worth $30,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings in the 3rd quarter valued at about $43,000. V Square Quantitative Management LLC purchased a new stake in DraftKings in the 3rd quarter valued at about $46,000. Creative Financial Designs Inc. ADV lifted its position in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares during the last quarter. Finally, YANKCOM Partnership purchased a new position in DraftKings during the fourth quarter worth about $48,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DKNG has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and issued a $44.00 price target on shares of DraftKings in a research note on Tuesday, January 7th. Susquehanna decreased their price target on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Mizuho upped their price target on DraftKings from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. JMP Securities cut their price objective on DraftKings from $52.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on DraftKings from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.92.

Insider Activity

In other news, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the sale, the insider now directly owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Liberman sold 532,095 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the sale, the insider now directly owns 68,654 shares of the company’s stock, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 963,742 shares of company stock worth $38,082,888. Corporate insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG opened at $45.44 on Thursday. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of -51.64, a price-to-earnings-growth ratio of 3.18 and a beta of 1.93. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $40.31 and a 200 day moving average price of $38.51.

DraftKings 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.