DraftKings Inc. (NASDAQ:DKNG) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its holdings in DraftKings Inc. (NASDAQ:DKNG) by 25.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,785,773 shares of the company’s stock after selling 615,958 shares during the period. Deutsche Bank AG owned approximately 0.20% of DraftKings worth $59,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of DKNG. Treasurer of the State of North Carolina lifted its position in DraftKings by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 199,102 shares of the company’s stock valued at $7,407,000 after buying an additional 1,250 shares during the last quarter. Keystone Financial Group lifted its holdings in shares of DraftKings by 171.9% in the 4th quarter. Keystone Financial Group now owns 32,030 shares of the company’s stock worth $1,192,000 after acquiring an additional 20,249 shares during the last quarter. Mariner LLC lifted its stake in DraftKings by 23.6% during the fourth quarter. Mariner LLC now owns 241,269 shares of the company’s stock worth $8,975,000 after purchasing an additional 46,044 shares in the last quarter. Portolan Capital Management LLC lifted its stake in DraftKings by 294.0% during the fourth quarter. Portolan Capital Management LLC now owns 320,583 shares of the company’s stock worth $11,926,000 after purchasing an additional 239,219 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in DraftKings by 11.3% during the fourth quarter. Guggenheim Capital LLC now owns 13,459 shares of the company’s stock worth $501,000 after purchasing an additional 1,364 shares in the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Stock Down 0.3%

DKNG opened at $42.73 on Tuesday. The business’s 50-day simple moving average is $41.67 and its 200-day simple moving average is $39.41. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.34 and a current ratio of 1.34. DraftKings Inc. has a one year low of $29.29 and a one year high of $53.61. The stock has a market capitalization of $38.00 billion, a P/E ratio of -65.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.70.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.39 billion. DraftKings had a negative net margin of 5.63% and a negative return on equity of 30.06%. The company’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. Analysts anticipate that DraftKings Inc. will post 0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of research reports. Cfra Research upgraded DraftKings to a “moderate buy” rating in a research note on Monday, April 14th. Truist Financial increased 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. Susquehanna reissued a “positive” rating and set a $64.00 price target on shares of DraftKings in a research report on Friday. Stifel Nicolaus reduced their price target on shares of DraftKings from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft set a $47.00 price target on shares of DraftKings and gave the stock a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.50.

Insider Activity

In other news, CFO Alan Wayne Ellingson sold 6,829 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $36.77, for a total value of $251,102.33. Following the transaction, the chief financial officer owned 171,268 shares of the company’s stock, valued at approximately $6,297,524.36. The trade was a 3.83% 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, Director Jocelyn Moore sold 3,136 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $35.28, for a total value of $110,638.08. Following the completion of the transaction, the director directly owned 5,947 shares in the company, valued at approximately $209,810.16. The trade was a 34.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 432,181 shares of company stock valued at $17,606,625. Company insiders own 47.08% of the company’s stock.

About DraftKings

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.