3,525 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by Whipplewood Advisors LLC

Whipplewood Advisors LLC bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,525 shares of the company’s stock, valued at approximately $131,000.

A number of other institutional investors have also recently bought and sold shares of the business. Pine Valley Investments Ltd Liability Co boosted its stake in DraftKings by 3.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock worth $271,000 after buying an additional 249 shares in the last quarter. Claro Advisors LLC boosted its stake in DraftKings by 1.5% during the fourth quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock worth $673,000 after buying an additional 264 shares in the last quarter. Allworth Financial LP boosted its stake in DraftKings by 8.0% during the fourth quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock worth $150,000 after buying an additional 271 shares in the last quarter. Westside Investment Management Inc. boosted its stake in DraftKings by 0.6% during the fourth quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock worth $1,678,000 after buying an additional 288 shares in the last quarter. Finally, Nvwm LLC boosted its stake in DraftKings by 1.6% during the fourth quarter. Nvwm LLC now owns 19,343 shares of the company’s stock worth $720,000 after buying an additional 312 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Performance

Shares of NASDAQ:DKNG opened at $42.74 on Friday. The stock has a market capitalization of $20.94 billion, a P/E ratio of -40.32, a P/E/G ratio of 1.43 and a beta of 1.93. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $41.71 and a two-hundred day moving average price of $39.63.

DraftKings (NASDAQ:DKNG) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 predict that DraftKings Inc. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DKNG. Piper Sandler reiterated an “overweight” rating and set a $60.00 price target (up previously from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Wells Fargo & Company boosted their target price on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted 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. Finally, Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Insiders Place Their Bets

In other news, CFO Alan Wayne Ellingson sold 158,661 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total value of $6,730,399.62. Following the completion of the sale, the chief financial officer now directly owns 179,435 shares of the company’s stock, valued at $7,611,632.70. This represents a 46.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 three months, insiders sold 2,573,488 shares of company stock valued at $109,600,767. 48.94% of the stock is currently owned by insiders.

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.