6,695 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC purchased a new position in DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,695 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Atwood & Palmer Inc. grew its holdings in shares of DraftKings by 1.8% in the 4th quarter. Atwood & Palmer Inc. now owns 524,259 shares of the company’s stock worth $19,502,000 after acquiring an additional 9,184 shares during the period. Harbor Investment Advisory LLC grew its holdings in shares of DraftKings by 17.3% in the 4th quarter. Harbor Investment Advisory LLC now owns 34,217 shares of the company’s stock worth $1,273,000 after acquiring an additional 5,056 shares during the period. Veery Capital LLC grew its holdings in shares of DraftKings by 17.1% in the 4th quarter. Veery Capital LLC now owns 37,065 shares of the company’s stock worth $1,379,000 after acquiring an additional 5,406 shares during the period. Udine Wealth Management Inc. grew its holdings in shares of DraftKings by 3.3% in the 4th quarter. Udine Wealth Management Inc. now owns 54,282 shares of the company’s stock worth $2,019,000 after acquiring an additional 1,734 shares during the period. Finally, Stonekeep Investments LLC grew its holdings in shares of DraftKings by 15.9% in the 4th quarter. Stonekeep Investments LLC now owns 6,863 shares of the company’s stock worth $255,000 after acquiring an additional 944 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $48.00 target price on shares of DraftKings in a report on Wednesday, October 16th. Macquarie increased their target price on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of DraftKings in a report on Friday, November 8th. JMP Securities lowered their target price 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, Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of DraftKings in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

Insider Activity

In related news, insider Paul Liberman sold 88,441 shares of DraftKings stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $36.41, for a total value of $3,220,136.81. Following the completion of the transaction, the insider now directly owns 1,923,483 shares in the company, valued at approximately $70,034,016.03. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 3,151 shares of DraftKings 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 transaction, the insider now owns 2,631,033 shares of the company’s stock, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,052,183 shares of company stock worth $41,303,025 over the last ninety days. Corporate insiders own 48.94% of the company’s stock.

DraftKings Stock Up 5.7 %

Shares of DraftKings stock opened at $41.51 on Wednesday. The business has a 50-day moving average of $40.57 and a 200-day moving average of $37.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $36.56 billion, a PE ratio of -47.17, a P/E/G ratio of 2.94 and a beta of 1.90. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $49.57.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.18). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. DraftKings had a negative net margin of 9.06% and a negative return on equity of 41.23%. As a group, equities analysts forecast that DraftKings Inc. will post -0.9 EPS for the current fiscal year.

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.