DraftKings (NASDAQ:DKNG) Insider R Stanton Dodge Sells 52,777 Shares

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $29.00, for a total transaction of $1,530,533.00. Following the transaction, the insider directly owned 500,454 shares of the company’s stock, valued at $14,513,166. The trade was a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

R Stanton Dodge also recently made the following trade(s):

• On Friday, October 17th, R Stanton Dodge sold 52,777 shares of DraftKings stock. The stock was sold at an average price of $34.57, for a total transaction of $1,824,500.89.
• On Tuesday, September 2nd, R Stanton Dodge sold 105,554 shares of DraftKings stock. The stock was sold at an average price of $47.37, for a total transaction of $5,000,092.98.

DraftKings Stock Performance

Shares of NASDAQ DKNG traded up $2.42 during midday trading on Friday, hitting $30.40. 41,948,305 shares of the stock traded hands, compared to its average volume of 18,446,818. The firm has a 50-day moving average of $37.88 and a two-hundred day moving average of $39.40. The firm has a market capitalization of $15.09 billion, a P/E ratio of -53.33, a PEG ratio of 0.95 and a beta of 1.86. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a one year low of $26.23 and a one year high of $53.61.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.27). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.40 billion. DraftKings had a negative return on equity of 21.47% and a negative net margin of 4.90%.The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.60) EPS. DraftKings has set its FY 2025 guidance at EPS. On average, equities analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

DKNG has been the topic of several recent research reports. Berenberg Bank set a $43.00 price objective on shares of DraftKings and gave the stock a “buy” rating in a research note on Thursday, October 9th. Northland Securities set a $30.00 price target on shares of DraftKings in a research report on Monday, October 13th. BMO Capital Markets dropped their price target on shares of DraftKings from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer cut their price target on DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, October 8th. Twenty-six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $51.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. grew its stake in DraftKings by 14.6% in the first quarter. Brown Advisory Inc. now owns 7,600 shares of the company’s stock worth $252,000 after purchasing an additional 968 shares in the last quarter. Helios Capital Management PTE. Ltd. raised its position in DraftKings by 926.0% during the 2nd quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock valued at $4,889,000 after purchasing an additional 102,889 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of DraftKings by 121.4% in the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after buying an additional 21,890 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of DraftKings in the 2nd quarter worth $1,081,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of DraftKings during the 2nd quarter worth $535,000. 37.70% of the stock is currently owned by institutional investors.

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.