DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Key Client Fiduciary Advisors LLC

Key Client Fiduciary Advisors LLC lessened its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 26.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,471 shares of the company’s stock after selling 2,010 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in DraftKings were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in DraftKings in the 4th quarter valued at about $7,975,000. RDA Financial Network purchased a new stake in shares of DraftKings in the 1st quarter valued at approximately $232,000. Deutsche Bank AG grew its stake in shares of DraftKings by 169.1% in the 3rd quarter. Deutsche Bank AG now owns 1,338,075 shares of the company’s stock valued at $39,393,000 after buying an additional 840,755 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of DraftKings in the 3rd quarter valued at approximately $209,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of DraftKings by 27.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 296,900 shares of the company’s stock valued at $8,741,000 after buying an additional 64,186 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, insider Paul Liberman sold 668,890 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total transaction of $25,972,998.70. Following the completion of the sale, the insider now directly owns 205,962 shares in the company, valued at $7,997,504.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $40.91, for a total value of $8,182,000.00. Following the completion of the transaction, the insider now directly owns 3,043,231 shares in the company, valued at $124,498,580.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Liberman sold 668,890 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $38.83, for a total transaction of $25,972,998.70. Following the completion of the transaction, the insider now owns 205,962 shares of the company’s stock, valued at $7,997,504.46. The disclosure for this sale can be found here. Insiders sold a total of 1,520,340 shares of company stock worth $60,996,583 over the last ninety days. 51.19% of the stock is owned by company insiders.

DraftKings Stock Performance

NASDAQ:DKNG opened at $37.11 on Friday. DraftKings Inc. has a 1-year low of $24.97 and a 1-year high of $49.57. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $40.81 and a 200-day simple moving average of $40.57. The firm has a market cap of $32.26 billion, a PE ratio of -31.45 and a beta of 1.81.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted ($0.87) EPS. The business’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities analysts expect that DraftKings Inc. will post -0.22 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on DKNG. JMP Securities reissued a “market outperform” rating and issued a $52.00 price target on shares of DraftKings in a research note on Monday, March 25th. BMO Capital Markets increased their price target on shares of DraftKings from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Company lowered their price objective on shares of DraftKings from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of DraftKings in a research report on Wednesday, June 12th. Finally, The Goldman Sachs Group began coverage on shares of DraftKings in a research report on Tuesday, April 16th. They set a “buy” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and a consensus price target of $49.24.

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.