Kestra Private Wealth Services LLC Purchases 387 Shares of DraftKings Inc. (NASDAQ:DKNG)

Kestra Private Wealth Services LLC lifted its position in DraftKings Inc. (NASDAQ:DKNG) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,414 shares of the company’s stock after buying an additional 387 shares during the period. Kestra Private Wealth Services LLC’s holdings in DraftKings were worth $611,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DKNG. Synergy Asset Management LLC bought a new stake in DraftKings during the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of DraftKings during the third quarter worth $43,000. V Square Quantitative Management LLC bought a new stake in DraftKings in the 3rd quarter valued at $46,000. Creative Financial Designs Inc. ADV boosted its stake in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock worth $47,000 after purchasing an additional 320 shares during the period. Finally, YANKCOM Partnership bought a new position in DraftKings during the 4th quarter worth about $48,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings Price Performance

Shares of DraftKings stock opened at $53.49 on Friday. The company has a 50-day simple moving average of $40.54 and a two-hundred day simple moving average of $38.73. DraftKings Inc. has a twelve month low of $28.69 and a twelve month high of $53.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of -60.78, a price-to-earnings-growth ratio of 3.18 and a beta of 1.93.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. Analysts forecast that DraftKings Inc. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

DKNG has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on DraftKings from $47.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their price objective on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Barclays increased their target price on shares of DraftKings from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of DraftKings in a research note on Friday. Finally, Benchmark boosted their price target on shares of DraftKings from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $51.64.

Insider Activity at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 228,496 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.74, for a total value of $9,765,919.04. Following the completion of the transaction, the insider now directly owns 541,884 shares in the company, valued at approximately $23,160,122.16. This trade represents a 29.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Liberman sold 532,095 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $38.30, for a total value of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. This represents a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,163,742 shares of company stock valued at $47,082,888 over the last ninety days. 51.19% of the stock is owned by corporate insiders.

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.