164,468 Shares in DraftKings Inc. (NASDAQ:DKNG) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 164,468 shares of the company’s stock, valued at approximately $5,797,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highlander Capital Management LLC increased its position in shares of DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock worth $25,000 after acquiring an additional 450 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of DraftKings by 233.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,014 shares of the company’s stock worth $27,000 after acquiring an additional 710 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of DraftKings in the fourth quarter worth $37,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of DraftKings by 154.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,215 shares of the company’s stock worth $42,000 after acquiring an additional 737 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of DraftKings in the third quarter worth $45,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DKNG. Truist Financial reissued a “buy” rating and issued a $55.00 price objective (up previously from $45.00) on shares of DraftKings in a research report on Tuesday, February 20th. Wells Fargo & Company increased their price objective on shares of DraftKings from $39.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. UBS Group raised their price target on shares of DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on shares of DraftKings in a report on Tuesday. They set a “buy” rating and a $60.00 price target for the company. Finally, Piper Sandler raised their price target on shares of DraftKings from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, DraftKings presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.93.

DraftKings Trading Down 1.4 %

DraftKings stock opened at $41.64 on Friday. The firm’s 50-day moving average is $43.84 and its 200-day moving average is $37.84. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a 1 year low of $20.26 and a 1 year high of $49.57. The company has a market cap of $36.09 billion, a P/E ratio of -23.79 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Friday, February 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. DraftKings had a negative return on equity of 87.24% and a negative net margin of 21.88%. The company’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) earnings per share. On average, equities analysts expect that DraftKings Inc. will post -0.25 earnings per share for the current year.

Insider Activity at DraftKings

In related news, insider Jason Robins sold 200,000 shares of DraftKings stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $37.82, for a total value of $7,564,000.00. Following the sale, the insider now directly owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other DraftKings news, insider R Stanton Dodge sold 686,101 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $43.06, for a total transaction of $29,543,509.06. Following the transaction, the insider now owns 200,239 shares of the company’s stock, valued at approximately $8,622,291.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the transaction, the insider now directly owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,101 shares of company stock worth $65,685,509 in the last ninety days. 51.19% of the stock is owned by insiders.

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.