76,748 Shares in DraftKings Inc. (NASDAQ:DKNG) Purchased by Entropy Technologies LP

Entropy Technologies LP bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 76,748 shares of the company’s stock, valued at approximately $2,855,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in DraftKings during the fourth quarter worth about $30,000. Delos Wealth Advisors LLC bought a new stake in DraftKings in the third quarter valued at approximately $43,000. V Square Quantitative Management LLC bought a new stake in DraftKings in the third quarter valued at approximately $46,000. Creative Financial Designs Inc. ADV raised its stake in DraftKings by 36.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after buying an additional 320 shares during the period. Finally, YANKCOM Partnership bought a new stake in DraftKings in the fourth quarter valued at approximately $48,000. Institutional investors own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DKNG. TD Cowen lowered their target price on DraftKings from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of DraftKings in a research note on Friday. Susquehanna lowered their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Macquarie increased their price target on DraftKings from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Morgan Stanley increased their price target on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.92.

DraftKings Stock Down 0.4 %

Shares of NASDAQ:DKNG opened at $42.28 on Friday. The firm has a market cap of $20.62 billion, a P/E ratio of -48.04, a P/E/G ratio of 3.18 and a beta of 1.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $49.57. The business has a fifty day simple moving average of $40.35 and a 200 day simple moving average of $38.39.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data 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). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. Analysts predict that DraftKings Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In other news, insider Jason Robins sold 3,151 shares of the firm’s 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 sale, the insider now directly owns 2,631,033 shares in the company, valued at $115,002,452.43. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R Stanton Dodge sold 228,496 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the sale, the insider now owns 541,884 shares of the company’s stock, valued at approximately $23,160,122.16. This represents a 29.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 963,742 shares of company stock worth $38,082,888 in the last three months. Company insiders own 51.19% of the company’s stock.

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.