DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Tempus Wealth Planning LLC

Tempus Wealth Planning LLC decreased its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the company’s stock after selling 8,599 shares during the period. Tempus Wealth Planning LLC’s holdings in DraftKings were worth $292,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in DraftKings by 1.4% during the 4th 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. lifted its stake in DraftKings by 4.0% during 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 acquiring an additional 707,504 shares in the last quarter. FMR LLC lifted its stake 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 acquiring an additional 7,150,382 shares in the last quarter. Janus Henderson Group PLC lifted its stake in DraftKings by 31,346.8% during the 4th quarter. Janus Henderson Group PLC now owns 9,381,853 shares of the company’s stock worth $349,005,000 after acquiring an additional 9,352,019 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DKNG shares. Macquarie lowered their target price on DraftKings from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. started coverage on DraftKings in a research note on Monday, June 23rd. They set an “overweight” rating and a $50.00 target price for the company. Truist Financial boosted their target price on DraftKings from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. BMO Capital Markets reissued an “outperform” rating and set a $65.00 target price on shares of DraftKings in a research note on Thursday, April 24th. Finally, Guggenheim lowered their target price on DraftKings from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and a consensus target price of $54.38.

Insider Buying and Selling

In related news, Director Jocelyn Moore sold 3,136 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $35.28, for a total value of $110,638.08. Following the transaction, the director owned 5,947 shares in the company, valued at $209,810.16. The trade was a 34.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew Kalish sold 210,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $37.83, for a total value of $7,944,300.00. Following the completion of the transaction, the insider owned 4,155,130 shares in the company, valued at $157,188,567.90. This trade represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 589,404 shares of company stock worth $22,639,746. Insiders own 51.19% of the company’s stock.

DraftKings Stock Performance

Shares of DKNG stock opened at $44.86 on Friday. The stock has a market capitalization of $39.89 billion, a PE ratio of -54.05, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67. DraftKings Inc. has a 52-week low of $28.69 and a 52-week high of $53.61. The stock’s 50-day moving average price is $39.68 and its 200 day moving average price is $39.07. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.11.

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.