Diversified Trust Co Has $2.24 Million Position in DraftKings Inc. (NASDAQ:DKNG)

Diversified Trust Co raised its position in DraftKings Inc. (NASDAQ:DKNG) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,517 shares of the company’s stock after purchasing an additional 5,910 shares during the period. Diversified Trust Co’s holdings in DraftKings were worth $2,242,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Total Wealth Planning & Management Inc. grew its holdings in shares of DraftKings by 8.0% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 7,050 shares of the company’s stock valued at $234,000 after buying an additional 523 shares during the period. Tranquility Partners LLC acquired a new position in DraftKings in the first quarter valued at about $528,000. Golden State Wealth Management LLC grew its stake in DraftKings by 150.6% in the first quarter. Golden State Wealth Management LLC now owns 4,921 shares of the company’s stock valued at $163,000 after acquiring an additional 2,957 shares during the period. Lecap Asset Management Ltd. bought a new stake in shares of DraftKings in the first quarter worth about $454,000. Finally, Steph & Co. raised its position in shares of DraftKings by 18.7% during the first quarter. Steph & Co. now owns 5,308 shares of the company’s stock worth $176,000 after purchasing an additional 838 shares during the period. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Matthew Kalish sold 210,000 shares of DraftKings stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $37.83, for a total transaction of $7,944,300.00. Following the completion of the transaction, the insider now owns 4,155,130 shares in the company, valued at approximately $157,188,567.90. This trade represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $32.28, for a total value of $1,703,641.56. Following the transaction, the insider now owns 601,520 shares of the company’s stock, valued at $19,417,065.60. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 536,627 shares of company stock worth $19,748,622. Insiders own 51.19% of the company’s stock.

DraftKings Trading Up 1.6%

NASDAQ DKNG opened at $42.89 on Friday. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $53.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.11. The stock has a 50 day moving average of $36.37 and a 200-day moving average of $38.46. The company has a market cap of $38.14 billion, a PE ratio of -51.67, a PEG ratio of 1.28 and a beta of 1.63.

Analyst Upgrades and Downgrades

DKNG has been the topic of several recent analyst reports. TD Securities decreased their price objective on DraftKings from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Barclays cut their price target on shares of DraftKings from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. assumed coverage on shares of DraftKings in a research report on Monday, June 23rd. They set an “overweight” rating and a $50.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $65.00 price objective on shares of DraftKings in a report on Thursday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of DraftKings in a research note on Friday, June 13th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, DraftKings has an average rating of “Moderate Buy” and an average target price of $54.03.

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.