DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lifted its stake in DraftKings Inc. (NASDAQ:DKNG) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,400 shares of the company’s stock after acquiring an additional 3,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in DraftKings were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DKNG. Baillie Gifford & Co. acquired a new stake in shares of DraftKings in the 4th quarter worth approximately $246,765,000. Fred Alger Management LLC lifted its stake in shares of DraftKings by 46.6% in the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock worth $182,039,000 after acquiring an additional 1,476,003 shares during the period. FMR LLC lifted its stake in shares of DraftKings by 14.7% in the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after acquiring an additional 826,626 shares during the period. Mizuho Securities USA LLC acquired a new stake in DraftKings during the third quarter valued at approximately $28,028,000. Finally, Blue Whale Capital LLP lifted its stake in DraftKings by 59.7% during the third quarter. Blue Whale Capital LLP now owns 1,644,774 shares of the company’s stock valued at $64,475,000 after purchasing an additional 615,011 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Stock Up 2.6 %

DraftKings stock opened at $43.86 on Friday. The firm’s 50 day moving average price is $41.78 and its two-hundred day moving average price is $39.79. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The firm has a market cap of $21.49 billion, a PE ratio of -41.38, a P/E/G ratio of 1.43 and a beta of 1.93. 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 announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) EPS 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%. On average, research analysts predict that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on DKNG. Wells Fargo & Company increased 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. Stifel Nicolaus increased their target price on shares of DraftKings from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Barclays increased their target price on shares of DraftKings from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial increased their target price on shares of DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Benchmark increased 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 Friday, February 14th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Insider Transactions at DraftKings

In other news, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.74, for a total transaction of $9,765,919.04. Following the transaction, the insider now owns 541,884 shares in the company, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Liberman sold 532,095 shares of the 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 transaction, the insider now owns 68,654 shares in the company, valued at approximately $2,629,448.20. This trade represents a 88.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,573,488 shares of company stock worth $109,600,767 in the last 90 days. 51.19% of the stock is 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.