Bank of Jackson Hole Trust Acquires Shares of 920 DraftKings Inc. (NASDAQ:DKNG)

Bank of Jackson Hole Trust bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) in the 1st quarter, Holdings Channel reports. The institutional investor bought 920 shares of the company’s stock, valued at approximately $31,000.

Other large investors have also recently modified their holdings of the company. Beacon Pointe Advisors LLC raised its holdings in shares of DraftKings by 1.9% during the 4th quarter. Beacon Pointe Advisors LLC now owns 10,699 shares of the company’s stock worth $398,000 after buying an additional 203 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in DraftKings by 0.3% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 77,696 shares of the company’s stock valued at $2,946,000 after acquiring an additional 217 shares during the last quarter. Snowden Capital Advisors LLC raised its stake in DraftKings by 3.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 8,724 shares of the company’s stock worth $325,000 after acquiring an additional 296 shares in the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of DraftKings by 3.4% in the first quarter. Obermeyer Wealth Partners now owns 8,930 shares of the company’s stock worth $297,000 after acquiring an additional 297 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of DraftKings by 44.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,024 shares of the company’s stock worth $34,000 after acquiring an additional 317 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insiders Place Their Bets

In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of DraftKings stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $36.77, for a total value of $251,102.33. Following the completion of the sale, the chief financial officer directly owned 171,268 shares in the company, valued at approximately $6,297,524.36. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 3,136 shares of DraftKings stock in a transaction on Friday, May 30th. The shares were sold at an average price of $35.28, for a total transaction of $110,638.08. Following the completion of the sale, the director owned 5,947 shares of the company’s stock, valued at $209,810.16. This represents a 34.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 589,404 shares of company stock valued at $22,639,746. Insiders own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

DKNG has been the topic of several research reports. Cowen reaffirmed a “buy” rating on shares of DraftKings in a report on Thursday, April 24th. Macquarie cut their target price on shares of DraftKings from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, May 12th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of DraftKings in a report on Friday, May 9th. Guggenheim dropped their price target on DraftKings from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, Citigroup reissued a “buy” rating on shares of DraftKings in a report on Friday, July 11th. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.38.

DraftKings Price Performance

DKNG stock opened at $43.73 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11. The firm has a market cap of $38.89 billion, a price-to-earnings ratio of -52.69, a PEG ratio of 1.52 and a beta of 1.70. The company’s fifty day simple moving average is $40.55 and its 200 day simple moving average is $39.25. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61.

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.