Dynamic Advisor Solutions LLC raised its position in DraftKings Inc. (NASDAQ:DKNG – Get Rating) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,895 shares of the company’s stock after purchasing an additional 19,592 shares during the period. Dynamic Advisor Solutions LLC’s holdings in DraftKings were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of DraftKings by 12.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 360,107 shares of the company’s stock valued at $5,452,000 after buying an additional 40,348 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of DraftKings by 23.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 89,985 shares of the company’s stock valued at $1,362,000 after buying an additional 17,326 shares in the last quarter. Romano Brothers AND Company acquired a new position in shares of DraftKings in the 3rd quarter valued at $254,000. Franklin Street Advisors Inc. NC boosted its stake in DraftKings by 100.0% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 20,000 shares of the company’s stock worth $303,000 after purchasing an additional 10,000 shares during the period. Finally, Carnegie Capital Asset Management LLC boosted its stake in DraftKings by 6.0% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 679,825 shares of the company’s stock worth $10,293,000 after purchasing an additional 38,734 shares during the period. 30.60% of the stock is owned by hedge funds and other institutional investors.
DraftKings Trading Down 0.7 %
NASDAQ:DKNG opened at $17.48 on Friday. The firm has a 50-day moving average price of $17.16 and a two-hundred day moving average price of $15.31. DraftKings Inc. has a twelve month low of $9.77 and a twelve month high of $21.62. The company has a market capitalization of $14.76 billion, a P/E ratio of -5.51 and a beta of 1.81.
Insiders Place Their Bets
In other DraftKings news, insider R Stanton Dodge sold 177,011 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $18.84, for a total transaction of $3,334,887.24. Following the sale, the insider now directly owns 600,074 shares of the company’s stock, valued at approximately $11,305,394.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other DraftKings news, insider R Stanton Dodge sold 177,011 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $18.84, for a total transaction of $3,334,887.24. Following the sale, the insider now directly owns 600,074 shares of the company’s stock, valued at approximately $11,305,394.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erik Bradbury sold 18,975 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $20.69, for a total transaction of $392,592.75. Following the sale, the chief accounting officer now directly owns 25,721 shares in the company, valued at $532,167.49. The disclosure for this sale can be found here. Insiders have sold 1,142,924 shares of company stock valued at $21,754,786 in the last ninety days. Insiders own 55.92% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on DKNG shares. Argus upgraded shares of DraftKings from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, March 7th. Piper Sandler decreased their price target on shares of DraftKings from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Wells Fargo & Company increased their price target on shares of DraftKings from $16.00 to $22.00 in a research note on Monday, February 20th. Susquehanna increased their price target on shares of DraftKings from $26.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, BTIG Research increased their price target on shares of DraftKings from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 13th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, DraftKings currently has a consensus rating of “Hold” and a consensus price target of $22.76.
About DraftKings
DraftKings Inc operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.
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