DraftKings Inc. (NASDAQ:DKNG) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its position in DraftKings Inc. (NASDAQ:DKNG) by 34.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,128 shares of the company’s stock after acquiring an additional 4,433 shares during the quarter. XTX Topco Ltd’s holdings in DraftKings were worth $654,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of DraftKings during the 1st quarter valued at approximately $31,000. LifeSteps Financial Inc. bought a new position in DraftKings during the first quarter worth $33,000. Transcendent Capital Group LLC bought a new position in DraftKings during the fourth quarter worth $26,000. Concord Wealth Partners lifted its stake in DraftKings by 140.2% during the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock worth $35,000 after purchasing an additional 453 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in DraftKings by 117.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the company’s stock valued at $42,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DKNG shares. Oppenheimer cut their target price on DraftKings from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. UBS Group lifted their target price on DraftKings from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 target price (down from $50.00) on shares of DraftKings in a report on Monday, August 5th. The Goldman Sachs Group lowered their target price on DraftKings from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Guggenheim lowered their target price on DraftKings from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.78.

Insider Buying and Selling

In other news, insider Paul Liberman sold 88,441 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the sale, the insider now directly owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.25, for a total value of $7,050,000.00. Following the completion of the transaction, the insider now directly owns 2,678,082 shares of the company’s stock, valued at $94,402,390.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Liberman sold 88,441 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.64, for a total value of $3,152,037.24. Following the completion of the transaction, the insider now directly owns 2,498,483 shares of the company’s stock, valued at $89,045,934.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 551,647 shares of company stock worth $18,811,071. 51.19% of the stock is currently owned by insiders.

DraftKings Trading Up 0.9 %

Shares of NASDAQ DKNG opened at $39.63 on Tuesday. The stock has a market cap of $34.45 billion, a price-to-earnings ratio of -33.58 and a beta of 1.80. The business has a 50 day simple moving average of $35.43 and a 200 day simple moving average of $39.40. DraftKings Inc. has a 52 week low of $25.73 and a 52 week high of $49.57. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.11 and a current ratio of 1.11.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, August 1st. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.13. DraftKings had a negative return on equity of 43.11% and a negative net margin of 9.45%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned ($0.17) EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, research analysts predict that DraftKings Inc. will post -0.31 earnings per share for the current fiscal year.

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.