R Stanton Dodge Sells 52,777 Shares of DraftKings (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction on Friday, October 17th. The stock was sold at an average price of $34.57, for a total transaction of $1,824,500.89. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $17,285,000. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

R Stanton Dodge also recently made the following trade(s):

• On Tuesday, September 2nd, R Stanton Dodge sold 105,554 shares of DraftKings stock. The stock was sold at an average price of $47.37, for a total transaction of $5,000,092.98.
• On Tuesday, August 5th, R Stanton Dodge sold 105,554 shares of DraftKings stock. The shares were sold at an average price of $44.60, for a total transaction of $4,707,708.40.

DraftKings Price Performance

Shares of NASDAQ DKNG opened at $34.70 on Friday. The firm’s 50-day moving average price is $41.46 and its 200-day moving average price is $39.62. DraftKings Inc. has a 1-year low of $29.64 and a 1-year high of $53.61. The firm has a market capitalization of $17.23 billion, a P/E ratio of -53.38, a P/E/G ratio of 0.87 and a beta of 1.99. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.82.

DraftKings (NASDAQ:DKNG) last posted its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. DraftKings has set its FY 2025 guidance at EPS. Equities research analysts anticipate that DraftKings Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DKNG shares. Citigroup reaffirmed a “neutral” rating on shares of DraftKings in a research report on Wednesday, October 1st. Stifel Nicolaus reduced their price objective on shares of DraftKings from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Oppenheimer reduced their price objective on shares of DraftKings from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Mizuho reduced their price objective on shares of DraftKings from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Finally, Berenberg Bank set a $43.00 price objective on shares of DraftKings and gave the stock a “buy” rating in a research report on Thursday, October 9th. Twenty-seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and an average price target of $52.83.

Institutional Trading of DraftKings

Institutional investors have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC purchased a new stake in shares of DraftKings during the 1st quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of DraftKings during the 1st quarter valued at approximately $31,000. TD Private Client Wealth LLC lifted its stake in shares of DraftKings by 54.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company’s stock valued at $34,000 after buying an additional 282 shares in the last quarter. Summit Securities Group LLC lifted its stake in shares of DraftKings by 349.1% during the 1st quarter. Summit Securities Group LLC now owns 1,042 shares of the company’s stock valued at $35,000 after buying an additional 810 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of DraftKings during the 2nd quarter valued at approximately $45,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

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.