Sigma Planning Corp lowered its position in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 9.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,500 shares of the company’s stock after selling 2,119 shares during the period. Sigma Planning Corp’s holdings in DraftKings were worth $397,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DKNG. Capital Impact Advisors LLC lifted its holdings in DraftKings by 17.5% in the 4th quarter. Capital Impact Advisors LLC now owns 4,556 shares of the company’s stock valued at $52,000 after purchasing an additional 678 shares in the last quarter. Hollencrest Capital Management purchased a new position in DraftKings in the 4th quarter valued at $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 valued at $68,000 after purchasing an additional 681 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in DraftKings in the 4th quarter valued at $69,000. Finally, CoreCap Advisors LLC purchased a new position in shares of DraftKings during the 4th quarter worth $72,000. Hedge funds and other institutional investors own 30.57% of the company’s stock.
Insider Buying and Selling
In related news, insider Paul Liberman sold 66,667 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $32.10, for a total transaction of $2,140,010.70. Following the completion of the sale, the insider now owns 1,260,583 shares in the company, valued at $40,464,714.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other DraftKings news, insider Paul Liberman sold 66,667 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $32.10, for a total value of $2,140,010.70. Following the completion of the sale, the insider now owns 1,260,583 shares in the company, valued at $40,464,714.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Erik Bradbury sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $30.12, for a total value of $90,360.00. Following the completion of the sale, the chief accounting officer now owns 25,070 shares of the company’s stock, valued at approximately $755,108.40. The disclosure for this sale can be found here. Insiders sold a total of 1,362,766 shares of company stock worth $38,425,557 over the last 90 days. 51.19% of the stock is owned by insiders.
DraftKings Price Performance
Analyst Ratings Changes
Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on DraftKings from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Sunday, August 6th. TD Cowen lifted their price target on DraftKings from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Truist Financial upgraded DraftKings from a “hold” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $44.00 in a report on Tuesday, August 8th. Barclays lifted their price target on DraftKings from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Finally, Stifel Nicolaus lifted their price target on DraftKings from $25.00 to $32.00 in a report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.29.
View 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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