Global Retirement Partners LLC trimmed its holdings in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) by 62.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,659 shares of the company’s stock after selling 11,209 shares during the period. Global Retirement Partners LLC’s holdings in DraftKings were worth $146,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of DKNG. Capital Impact Advisors LLC grew its holdings in DraftKings by 17.5% during the fourth quarter. Capital Impact Advisors LLC now owns 4,556 shares of the company’s stock worth $52,000 after acquiring an additional 678 shares during the period. Hollencrest Capital Management acquired a new stake in DraftKings in the 4th quarter worth approximately $64,000. First Horizon Advisors Inc. lifted its holdings in DraftKings by 12.9% in the 4th quarter. First Horizon Advisors Inc. now owns 5,943 shares of the company’s stock worth $68,000 after purchasing an additional 681 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in DraftKings in the 4th quarter worth approximately $69,000. Finally, CoreCap Advisors LLC acquired a new stake in DraftKings in the 4th quarter worth approximately $72,000. 30.57% of the stock is owned by institutional investors and hedge funds.
Insider Activity at DraftKings
In other DraftKings news, insider R Stanton Dodge sold 211,108 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $30.12, for a total value of $6,358,572.96. Following the completion of the transaction, the insider now owns 629,023 shares of the company’s stock, valued at approximately $18,946,172.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DraftKings news, CFO Jason Park sold 101,340 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $23.99, for a total value of $2,431,146.60. Following the completion of the sale, the chief financial officer now directly owns 415,184 shares of the company’s stock, valued at $9,960,264.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R Stanton Dodge sold 211,108 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $30.12, for a total value of $6,358,572.96. Following the completion of the sale, the insider now directly owns 629,023 shares of the company’s stock, valued at $18,946,172.76. The disclosure for this sale can be found here. Insiders sold 1,362,766 shares of company stock worth $38,425,557 in the last ninety days. 51.19% of the stock is owned by company insiders.
DraftKings Stock Performance
Analysts Set New Price Targets
DKNG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on DraftKings from $24.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Craig Hallum upped their price target on DraftKings from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Bank of America upgraded DraftKings from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $35.00 in a research report on Wednesday, July 12th. VNET Group reissued a “reiterates” rating on shares of DraftKings in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus boosted their price objective on DraftKings from $25.00 to $32.00 in a research note on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.29.
Read Our Latest Stock Report on DraftKings
DraftKings Profile
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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