DraftKings Inc. (NASDAQ:DKNG) Insider Jason Robins Sells 3,151 Shares

DraftKings Inc. (NASDAQ:DKNG) insider Jason Robins sold 3,151 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total transaction of $137,730.21. Following the sale, the insider now directly owns 2,631,033 shares in the company, valued at $115,002,452.43. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

DraftKings Stock Performance

DraftKings stock opened at $43.09 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. The business has a 50 day simple moving average of $38.92 and a 200 day simple moving average of $37.97.

DraftKings (NASDAQ:DKNG) last released its earnings results on Thursday, November 7th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Research analysts anticipate that DraftKings Inc. will post -0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DKNG. The Goldman Sachs Group cut their target price on shares of DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Oppenheimer dropped their price target on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of DraftKings from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Barclays increased their price target on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, JMP Securities increased their price target on shares of DraftKings from $51.00 to $52.00 and gave the company a “market outperform” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, DraftKings has an average rating of “Moderate Buy” and a consensus target price of $50.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC acquired a new position in shares of DraftKings in the first quarter valued at approximately $31,000. Alta Advisers Ltd bought a new position in DraftKings during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC bought a new position in DraftKings during the 2nd quarter worth $39,000. Delos Wealth Advisors LLC bought a new position in shares of DraftKings in the 3rd quarter worth about $43,000. Finally, V Square Quantitative Management LLC bought a new position in shares of DraftKings in the 3rd quarter worth about $46,000. 37.70% of the stock is owned by institutional investors and hedge funds.

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.