4,645 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the fourth quarter, HoldingsChannel reports. The fund acquired 4,645 shares of the company’s stock, valued at approximately $164,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC purchased a new stake in shares of DraftKings in the second quarter valued at about $215,687,000. Two Sigma Investments LP purchased a new stake in shares of DraftKings in the first quarter valued at about $102,351,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of DraftKings in the third quarter valued at about $107,276,000. Ameriprise Financial Inc. lifted its holdings in shares of DraftKings by 345.7% in the third quarter. Ameriprise Financial Inc. now owns 4,440,494 shares of the company’s stock valued at $130,742,000 after purchasing an additional 3,444,107 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of DraftKings in the third quarter valued at about $91,790,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DKNG. Susquehanna upped their price target on shares of DraftKings from $51.00 to $54.00 and gave the company a “positive” rating in a report on Monday, March 25th. Stifel Nicolaus raised shares of DraftKings from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $45.00 in a report on Friday, January 19th. BMO Capital Markets boosted their price objective on shares of DraftKings from $43.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Needham & Company LLC boosted their price objective on shares of DraftKings from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Mizuho initiated coverage on shares of DraftKings in a research report on Tuesday, March 26th. They issued a “buy” rating and a $58.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.93.

Insider Activity

In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the completion of the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at approximately $144,309,698.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the completion of the sale, the insider now directly owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the sale, the insider now directly owns 3,815,698 shares of the company’s stock, valued at $144,309,698.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,596,101 shares of company stock valued at $65,685,509. Company insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG stock opened at $42.21 on Thursday. The company’s fifty day simple moving average is $43.86 and its 200-day simple moving average is $37.81. DraftKings Inc. has a 52 week low of $19.73 and a 52 week high of $49.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a market cap of $36.58 billion, a PE ratio of -24.12 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business posted ($0.53) EPS. The business’s revenue was up 43.9% on a year-over-year basis. As a group, equities research analysts anticipate that DraftKings Inc. will post -0.25 EPS for the current 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.