Robbins Farley Acquires 837 Shares of DraftKings Inc. (NASDAQ:DKNG)

Robbins Farley grew its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,680 shares of the company’s stock after buying an additional 837 shares during the quarter. Robbins Farley’s holdings in DraftKings were worth $1,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in DraftKings by 3.7% in the 3rd 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 in the last quarter. FMR LLC lifted its holdings in shares of DraftKings by 14.7% in the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock valued at $253,509,000 after purchasing an additional 826,626 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of DraftKings by 46.6% during the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock valued at $182,039,000 after buying an additional 1,476,003 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in DraftKings by 6.8% during the third quarter. Westfield Capital Management Co. LP now owns 3,698,026 shares of the company’s stock worth $144,963,000 after buying an additional 236,427 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DraftKings by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,175,255 shares of the company’s stock valued at $124,470,000 after buying an additional 86,336 shares during the last quarter. 37.70% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Paul Liberman sold 200,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now owns 1,342,722 shares of the company’s stock, valued at approximately $52,366,158. This represents a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 228,496 shares of DraftKings stock in a transaction on 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 sale, the insider now directly owns 541,884 shares of the company’s stock, valued at $23,160,122.16. This represents a 29.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 963,742 shares of company stock worth $38,082,888. 48.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DKNG has been the subject of several recent analyst reports. Susquehanna reduced their target price on shares of DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen lifted their target price on shares of DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Barclays upped their target price on DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $48.00 price target on shares of DraftKings in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

DraftKings Price Performance

DraftKings stock opened at $41.39 on Tuesday. DraftKings Inc. has a one year low of $28.69 and a one year high of $49.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average price of $40.46 and a 200-day moving average price of $38.23.

DraftKings (NASDAQ:DKNG) last issued its earnings results on Thursday, November 7th. The company reported ($0.60) EPS 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities analysts anticipate that DraftKings Inc. will post -0.93 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.