DraftKings Inc. (NASDAQ:DKNG) Given Consensus Rating of “Moderate Buy” by Brokerages

DraftKings Inc. (NASDAQ:DKNG) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $54.42.

Several brokerages have recently commented on DKNG. JPMorgan Chase & Co. boosted their target price on DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Barclays increased their target price on DraftKings from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price target (up from $48.00) on shares of DraftKings in a report on Tuesday, February 18th. Wells Fargo & Company upped their price target on shares of DraftKings from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group raised their price objective on shares of DraftKings from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 14th.

DraftKings Stock Down 4.7 %

Shares of NASDAQ DKNG opened at $35.29 on Monday. DraftKings has a 52-week low of $28.69 and a 52-week high of $53.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 0.93. The business has a fifty day moving average of $42.01 and a two-hundred day moving average of $40.36. The stock has a market cap of $17.64 billion, a PE ratio of -33.29, a PEG ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last announced 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 net margin of 10.64% and a negative return on equity of 48.13%. As a group, equities research analysts expect that DraftKings will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alan Wayne Ellingson sold 158,661 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.42, for a total transaction of $6,730,399.62. Following the sale, the chief financial officer now owns 179,435 shares of the company’s stock, valued at $7,611,632.70. This trade represents a 46.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason Robins sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $45.00, for a total value of $9,000,000.00. Following the sale, the insider now directly owns 2,678,613 shares in the company, valued at approximately $120,537,585. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,775,525 shares of company stock valued at $117,241,446 in the last 90 days. 51.19% of the stock is owned by insiders.

Institutional Trading of DraftKings

A number of large investors have recently bought and sold shares of DKNG. Vanguard Group Inc. increased its position in shares of DraftKings by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company’s stock worth $1,602,327,000 after acquiring an additional 584,452 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in DraftKings by 4.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,569,637 shares of the company’s stock worth $690,791,000 after purchasing an additional 707,504 shares during the period. FMR LLC increased its holdings in DraftKings by 110.6% during the 4th quarter. FMR LLC now owns 13,617,448 shares of the company’s stock worth $506,569,000 after purchasing an additional 7,150,382 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of DraftKings by 31,346.8% in the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company’s stock valued at $349,005,000 after purchasing an additional 9,352,019 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of DraftKings by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company’s stock valued at $299,921,000 after purchasing an additional 89,988 shares in the last quarter. 37.70% of the stock is owned by institutional investors.

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.