DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,176 shares of the company’s stock after selling 4,250 shares during the quarter. Natixis Advisors LLC’s holdings in DraftKings were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of DKNG. Baillie Gifford & Co. purchased a new stake in shares of DraftKings in the 4th quarter valued at approximately $246,765,000. Fred Alger Management LLC grew its position in DraftKings by 46.6% in the third quarter. Fred Alger Management LLC now owns 4,643,852 shares of the company’s stock worth $182,039,000 after acquiring an additional 1,476,003 shares during the period. FMR LLC increased its stake in DraftKings by 14.7% during the third quarter. FMR LLC now owns 6,467,066 shares of the company’s stock worth $253,509,000 after acquiring an additional 826,626 shares during the last quarter. Blue Whale Capital LLP raised its position in DraftKings by 59.7% in the third quarter. Blue Whale Capital LLP now owns 1,644,774 shares of the company’s stock valued at $64,475,000 after purchasing an additional 615,011 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new position in shares of DraftKings in the 4th quarter valued at $17,334,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $40.52 on Tuesday. The business has a 50 day moving average price of $42.18 and a 200 day moving average price of $40.34. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The company has a quick ratio of 1.00, a current ratio of 0.93 and a debt-to-equity ratio of 1.24. The stock has a market cap of $19.85 billion, a price-to-earnings ratio of -38.23, a PEG ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings data 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 48.13% and a negative net margin of 10.64%. Equities research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of DraftKings from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley boosted their price target on shares of DraftKings from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. BTIG Research set a $59.00 price objective on shares of DraftKings in a research report on Monday, February 3rd. Benchmark boosted their target price on DraftKings from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Truist Financial raised their price target on DraftKings from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Insider Buying and Selling at DraftKings

In other DraftKings news, insider Paul Liberman sold 200,000 shares of DraftKings stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.00, for a total value of $7,800,000.00. Following the transaction, the insider now directly owns 1,342,722 shares in the company, valued at approximately $52,366,158. The trade was a 12.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 3,420 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total transaction of $143,640.00. Following the sale, the director now owns 1,612 shares of the company’s stock, valued at $67,704. This trade represents a 67.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,663,966 shares of company stock worth $112,550,362. 51.19% of the stock is owned by insiders.

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.