DraftKings Inc. (NASDAQ:DKNG) Shares Acquired by Greystone Financial Group LLC

Greystone Financial Group LLC increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,949 shares of the company’s stock after purchasing an additional 490 shares during the quarter. Greystone Financial Group LLC’s holdings in DraftKings were worth $742,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DKNG. Geode Capital Management LLC raised its holdings in shares of DraftKings by 3.7% during the third quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock worth $312,361,000 after purchasing an additional 284,131 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in DraftKings during the 4th quarter worth about $246,765,000. FMR LLC raised its stake in shares of DraftKings by 14.7% during the 3rd quarter. FMR LLC now owns 6,467,066 shares of the company’s stock valued at $253,509,000 after buying an additional 826,626 shares during the last quarter. Fred Alger Management LLC lifted its holdings 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 valued at $182,039,000 after buying an additional 1,476,003 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in shares of DraftKings by 6.8% in the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after buying an additional 236,427 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Activity

In other news, insider Paul Liberman sold 532,095 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 68,654 shares in the company, valued at approximately $2,629,448.20. This represents a 88.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the sale, the insider now owns 2,678,613 shares in the company, valued at $120,537,585. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,160,591 shares of company stock worth $46,945,158. 51.19% of the stock is currently owned by insiders.

DraftKings Stock Down 7.8 %

DKNG stock opened at $45.57 on Friday. 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 Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of -42.99, a PEG ratio of 1.91 and a beta of 1.93. The company’s 50 day moving average price is $41.41 and its 200 day moving average price is $39.28.

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 analysts’ consensus estimates of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. On average, equities research analysts anticipate that DraftKings Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DKNG has been the subject of several recent research reports. Canaccord Genuity Group lifted their price target on DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company increased their target price on DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday. Susquehanna cut their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price (up from $48.00) on shares of DraftKings in a research report on Tuesday. Finally, Macquarie increased their price target on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.69.

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.