DraftKings Inc. (NASDAQ:DKNG) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 16.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,400 shares of the company’s stock after selling 1,700 shares during the period. UniSuper Management Pty Ltd’s holdings in DraftKings were worth $312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in DraftKings during the fourth quarter worth $28,000. Synergy Asset Management LLC purchased a new position in shares of DraftKings during the 4th quarter worth $30,000. Synergy Investment Management LLC acquired a new stake in shares of DraftKings during the 4th quarter worth about $37,000. Delos Wealth Advisors LLC purchased a new stake in DraftKings in the 3rd quarter valued at about $43,000. Finally, YANKCOM Partnership acquired a new position in DraftKings in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DKNG. Canaccord Genuity Group upped their price objective on shares of DraftKings from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Needham & Company LLC set a $65.00 price target on DraftKings in a research note on Tuesday, February 18th. Truist Financial lifted their price objective on DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Susquehanna dropped their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.42.

Insiders Place Their Bets

In related news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $45.00, for a total transaction of $9,000,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alan Wayne Ellingson sold 158,661 shares of DraftKings stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the completion of the transaction, the chief financial officer now owns 179,435 shares in the company, valued at approximately $7,611,632.70. This represents a 46.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,775,525 shares of company stock valued at $117,241,446. 51.19% of the stock is currently owned by insiders.

DraftKings Price Performance

DKNG stock opened at $33.21 on Tuesday. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of -31.33, a PEG ratio of 1.43 and a beta of 2.07. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average price of $41.89 and a 200 day moving average price of $40.32.

DraftKings (NASDAQ:DKNG) last issued 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 research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

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.