Atwood & Palmer Inc. Has $20.19 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Atwood & Palmer Inc. increased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 515,075 shares of the company’s stock after buying an additional 19,887 shares during the quarter. Atwood & Palmer Inc. owned about 0.06% of DraftKings worth $20,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of DraftKings during the first quarter worth approximately $31,000. Transcendent Capital Group LLC acquired a new position in DraftKings during the fourth quarter worth $26,000. Concord Wealth Partners lifted its stake in shares of DraftKings by 140.2% in the first quarter. Concord Wealth Partners now owns 776 shares of the company’s stock valued at $35,000 after buying an additional 453 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of 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 in the last quarter. Finally, Alta Advisers Ltd acquired a new position in shares of DraftKings during the second quarter valued at about $38,000. Institutional investors own 37.70% of the company’s stock.

Insider Buying and Selling

In other DraftKings news, insider Paul Liberman sold 63,206 shares of DraftKings stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the completion of the transaction, the insider now owns 1,716,406 shares of the company’s stock, valued at $66,939,834. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paul Liberman sold 63,206 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $39.00, for a total transaction of $2,465,034.00. Following the sale, the insider now owns 1,716,406 shares of the company’s stock, valued at approximately $66,939,834. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.25, for a total transaction 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 approximately $94,402,390.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,195,301 shares of company stock valued at $45,355,362. Corporate insiders own 51.19% of the company’s stock.

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $37.80 on Tuesday. The company has a 50-day moving average price of $35.82 and a two-hundred day moving average price of $39.18. DraftKings Inc. has a twelve month low of $25.73 and a twelve month high of $49.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $32.86 billion, a PE ratio of -32.03 and a beta of 1.81.

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

Analyst Ratings Changes

DKNG has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price target (down previously from $50.00) on shares of DraftKings in a research report on Monday, August 5th. Barclays raised their target price on DraftKings from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley reiterated an “overweight” rating and set a $47.00 price target on shares of DraftKings in a report on Wednesday, September 11th. UBS Group raised their price objective on DraftKings from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer reduced their target price on shares of DraftKings from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

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.