12,117 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new stake in DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,117 shares of the company’s stock, valued at approximately $451,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of DraftKings by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company’s stock valued at $1,602,327,000 after buying an additional 584,452 shares during the period. Geode Capital Management LLC grew its stake in DraftKings by 3.7% in the third quarter. Geode Capital Management LLC now owns 7,985,021 shares of the company’s stock valued at $312,361,000 after acquiring an additional 284,131 shares during the period. Baillie Gifford & Co. bought a new stake in shares of DraftKings in the fourth quarter worth about $246,765,000. FMR LLC raised its position in shares of DraftKings by 14.7% during the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after purchasing an additional 826,626 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in shares of DraftKings by 46.6% during the 3rd quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after purchasing an additional 1,476,003 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Liberman sold 200,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the sale, the insider now directly owns 1,342,722 shares of the company’s stock, valued at approximately $52,366,158. This represents a 12.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Kalish sold 587,585 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $47.05, for a total value of $27,645,874.25. Following the completion of the transaction, the insider now directly owns 4,118,927 shares of the company’s stock, valued at approximately $193,795,515.35. This trade represents a 12.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,663,966 shares of company stock worth $112,550,362 in the last 90 days. Company insiders own 51.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DKNG shares. Piper Sandler reissued an “overweight” rating and issued a $60.00 target price (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Truist Financial boosted their price objective on shares of DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Needham & Company LLC set a $65.00 target price on shares of DraftKings in a research report on Tuesday, February 18th. BTIG Research set a $59.00 price target on shares of DraftKings in a research report on Monday, February 3rd. Finally, Cowen restated a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Three equities 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 has an average rating of “Moderate Buy” and a consensus target price of $54.44.

DraftKings Stock Down 3.9 %

DKNG opened at $38.95 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The stock has a fifty day moving average of $42.16 and a 200-day moving average of $40.37. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The company has a market capitalization of $19.08 billion, a P/E ratio of -36.75, a P/E/G ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) 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 analysts expect that DraftKings Inc. will post 0.64 EPS for the current year.

About DraftKings

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.