DraftKings Inc. (NASDAQ:DKNG) Holdings Lifted by Vanguard Group Inc. (2024)

Vanguard Group Inc. lifted its holdings in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 39,263,918 shares of the company’s stock after buying an additional 2,225,759 shares during the quarter. Vanguard Group Inc.’s holdings in DraftKings were worth $1,384,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DKNG. Rhumbline Advisers boosted its holdings in DraftKings by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 547,712 shares of the company’s stock valued at $16,125,000 after purchasing an additional 2,769 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of DraftKings by 20.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 56,997 shares of the company’s stock valued at $1,678,000 after acquiring an additional 9,820 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in DraftKings in the third quarter worth about $795,000. Kestra Advisory Services LLC boosted its holdings in DraftKings by 35.0% during the third quarter. Kestra Advisory Services LLC now owns 47,353 shares of the company’s stock valued at $1,394,000 after purchasing an additional 12,283 shares in the last quarter. Finally, Prudential PLC bought a new stake in shares of DraftKings in the 3rd quarter valued at approximately $349,000. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DKNG shares. Benchmark upped their target price on shares of DraftKings from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. The Goldman Sachs Group assumed coverage on DraftKings in a research note on Tuesday, April 16th. They issued a “buy” rating and a $60.00 price objective on the stock. UBS Group increased their target price on DraftKings from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus cut their price target on DraftKings from $51.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Finally, Barclays increased their price objective on shares of DraftKings from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Get Our Latest Research Report on DraftKings

Insider Activity

In related news, Director Harry Sloan sold 250,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the sale, the director now directly owns 250,000 shares in the company, valued at $9,537,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jocelyn Moore sold 1,450 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $35.92, for a total transaction of $52,084.00. Following the completion of the transaction, the director now directly owns 6,814 shares of the company’s stock, valued at approximately $244,758.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry Sloan sold 250,000 shares of DraftKings stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $38.15, for a total transaction of $9,537,500.00. Following the completion of the sale, the director now owns 250,000 shares in the company, valued at $9,537,500. The disclosure for this sale can be found here. Insiders sold 851,450 shares of company stock worth $35,023,584 over the last quarter. 48.94% of the stock is currently owned by company insiders.

DraftKings Stock Performance

DKNG stock opened at $43.25 on Thursday. DraftKings Inc. has a 1-year low of $24.16 and a 1-year high of $49.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.51. The firm has a market cap of $37.59 billion, a PE ratio of -36.65 and a beta of 1.81. The business’s 50-day moving average price is $41.20 and its two-hundred day moving average price is $40.43.

DraftKings (NASDAQ:DKNG – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). DraftKings had a negative net margin of 13.45% and a negative return on equity of 62.74%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned ($0.87) EPS. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. As a group, research analysts forecast that DraftKings Inc. will post -0.21 earnings per share for the current year.

DraftKings Company Profile

(Free Report)

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.

Read More

• Five stocks we like better than DraftKings
• Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
• Outlook Therapeutics: Analysts Forecast Over 500% Stock Upside
• NYSE Stocks Give Investors a Variety of Quality Options
• Campbell Soup Co. Targets Fiscal Q4 Stock Recovery
• 3 Warren Buffett Stocks to Buy Now
• Zebra Analysts Upgrade Stock, Forecasting Major Reversal

Want to see what other hedge funds are holding DKNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DraftKings Inc. (NASDAQ:DKNG – Free Report).

Receive News & Ratings for DraftKings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings and related companies with MarketBeat.com's FREE daily email newsletter.