DraftKings Inc. $DKNG Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its stake in DraftKings Inc. (NASDAQ:DKNG) by 458.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 104,360 shares of the company’s stock after acquiring an additional 85,665 shares during the period. Rockefeller Capital Management L.P.’s holdings in DraftKings were worth $3,596,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of DraftKings by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after purchasing an additional 1,354,457 shares during the period. Bedell Frazier Investment Counselling LLC purchased a new stake in DraftKings in the third quarter valued at approximately $4,492,000. Waycross Partners LLC acquired a new position in DraftKings during the fourth quarter worth $2,584,000. DAVENPORT & Co LLC lifted its stake in DraftKings by 11.2% during the fourth quarter. DAVENPORT & Co LLC now owns 3,456,735 shares of the company’s stock worth $119,602,000 after purchasing an additional 348,333 shares in the last quarter. Finally, Stableford Capital II LLC acquired a new position in DraftKings during the fourth quarter worth $2,476,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Activity

In related news, insider R Stanton Dodge sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total value of $1,855,000.00. Following the sale, the insider owned 556,258 shares of the company’s stock, valued at $16,509,737.44. This trade represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the transaction, the director owned 29,820 shares of the company’s stock, valued at $766,672.20. This represents a 53.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 97,596 shares of company stock valued at $2,756,991 in the last quarter. Company insiders own 47.18% of the company’s stock.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings launched DKeX, its proprietary prediction markets exchange, and integrated it into the DraftKings: Sports & Casino app, giving the company more control over product design, economics, and the customer experience. DraftKings Launches Proprietary Exchange to Bolster Differentiated Predictions Experience
• Positive Sentiment: Investors are encouraged by evidence that DraftKings’ Predictions business is gaining traction, with recent filings showing rising trading volume and management signaling that prediction markets could become a meaningful part of its long-term “super app” strategy. DraftKings Gains as Investors Cheer Prediction-Market Push
• Positive Sentiment: Analyst commentary and recent price-target updates remain constructive, reinforcing the view that the prediction-markets rollout could support revenue growth and sentiment around the stock. DraftKings Shares Climb After Company Unveils DKeX, Its Own Prediction Markets Exchange
• Neutral Sentiment: Some reports note that DraftKings remains volatile as investors balance the upside from prediction markets against profitability, litigation, and macroeconomic risks. DraftKings shares volatile as investors weigh prediction market growth against profitability risks
• Negative Sentiment: Recent articles also highlighted pressure from broader market weakness and concerns about competition, reminding investors that the stock can still swing sharply even after the product launch. Why Is DraftKings Stock Falling On Thursday?

DraftKings Stock Up 11.3%

Shares of NASDAQ DKNG opened at $25.70 on Friday. The stock has a market cap of $12.75 billion, a P/E ratio of 428.33 and a beta of 1.66. The business’s fifty day simple moving average is $25.09 and its 200-day simple moving average is $27.08. DraftKings Inc. has a 12-month low of $20.46 and a 12-month high of $48.78. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, May 8th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities analysts predict that DraftKings Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DKNG shares. Stephens began coverage on DraftKings in a research note on Friday, April 24th. They issued an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft lowered DraftKings from a “hold” rating to a “hold” rating in a research note on Friday, April 24th. BMO Capital Markets boosted their price target on shares of DraftKings from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. BTIG Research increased their price target on shares of DraftKings from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Freedom Capital raised shares of DraftKings to a “strong-buy” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus target price of $34.27.

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.