Asset Management One Co. Ltd. Has $5.99 Million Stock Position in DraftKings Inc. (NASDAQ:DKNG)

Asset Management One Co. Ltd. trimmed its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,041 shares of the company’s stock after selling 2,135 shares during the quarter. Asset Management One Co. Ltd.’s holdings in DraftKings were worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in DraftKings during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of DraftKings in the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new position in shares of DraftKings in the 3rd quarter worth approximately $43,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of 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 acquiring an additional 320 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of DraftKings in the 4th quarter worth approximately $48,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of DraftKings in a report on Friday, February 14th. Barclays boosted their target price on DraftKings from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial boosted their target price on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley boosted their target price on DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Susquehanna reduced their target price on DraftKings from $56.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.69.

DraftKings Stock Performance

Shares of DraftKings stock opened at $51.49 on Wednesday. The company has a market capitalization of $25.11 billion, a PE ratio of -58.51, a PEG ratio of 3.18 and a beta of 1.93. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $39.03.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) 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%. On average, research analysts predict that DraftKings Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling

In other DraftKings news, insider Paul Liberman sold 532,095 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the completion of the transaction, the insider now owns 68,654 shares in the company, valued at approximately $2,629,448.20. This represents a 88.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Robins sold 3,151 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the transaction, the insider now owns 2,631,033 shares of the company’s stock, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,163,742 shares of company stock valued at $47,082,888. 51.19% of the stock is owned by company 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.