UniSuper Management Pty Ltd Sells 1,700 Shares of DraftKings Inc. (NASDAQ:DKNG)

UniSuper Management Pty Ltd lessened its holdings in DraftKings Inc. (NASDAQ:DKNG) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,400 shares of the company’s stock after selling 1,700 shares during the period. UniSuper Management Pty Ltd’s holdings in DraftKings were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stonebridge Financial Group LLC purchased a new stake in DraftKings during the fourth quarter worth $28,000. Synergy Asset Management LLC purchased a new stake in shares of DraftKings during the 4th quarter worth $30,000. Synergy Investment Management LLC bought a new stake in DraftKings during the fourth quarter valued at about $37,000. Delos Wealth Advisors LLC purchased a new position in DraftKings in the third quarter valued at about $43,000. Finally, YANKCOM Partnership bought a new position in DraftKings in the fourth quarter worth about $48,000. 37.70% of the stock is currently owned by institutional investors.

Insider Activity

In other DraftKings news, insider Paul Liberman sold 643,654 shares of DraftKings stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $38.95, for a total transaction of $25,070,323.30. Following the sale, the insider now owns 682,764 shares of the company’s stock, valued at $26,593,657.80. The trade was a 48.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason Robins sold 666,651 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the transaction, the insider now owns 3,336,195 shares in the company, valued at $141,521,391.90. The trade was a 16.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,775,525 shares of company stock worth $117,241,446 over the last three months. 51.19% of the stock is currently owned by corporate insiders.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $33.21 on Tuesday. DraftKings Inc. has a 1 year low of $28.69 and a 1 year high of $53.61. 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 company’s fifty day moving average price is $41.89 and its 200 day moving average price is $40.32. The company has a market capitalization of $16.60 billion, a PE ratio of -31.33, a price-to-earnings-growth ratio of 1.43 and a beta of 2.07.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DKNG. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research report on Tuesday, February 18th. Cowen reaffirmed a “buy” rating on shares of DraftKings in a report on Tuesday, February 4th. Susquehanna decreased their price objective on DraftKings from $56.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus boosted their target price on DraftKings from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and an average target price of $54.42.

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.