DraftKings Inc. $DKNG Shares Acquired by Leonteq Securities AG

Leonteq Securities AG boosted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 237.6% in the 1st quarter, Holdings Channel reports. The firm owned 95,868 shares of the company’s stock after purchasing an additional 67,473 shares during the period. Leonteq Securities AG’s holdings in DraftKings were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in DraftKings by 43.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 148,250 shares of the company’s stock valued at $3,205,000 after purchasing an additional 44,950 shares during the period. Strs Ohio boosted its stake in shares of DraftKings by 71.6% during the first quarter. Strs Ohio now owns 419,495 shares of the company’s stock worth $9,069,000 after buying an additional 174,983 shares during the period. Root Financial Partners LLC boosted its stake in shares of DraftKings by 208.0% during the first quarter. Root Financial Partners LLC now owns 2,775 shares of the company’s stock worth $60,000 after buying an additional 1,874 shares during the period. IFM Investors Pty Ltd grew its holdings in shares of DraftKings by 7.7% during the first quarter. IFM Investors Pty Ltd now owns 91,002 shares of the company’s stock worth $1,967,000 after buying an additional 6,489 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of DraftKings during the first quarter worth about $304,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DKNG shares. TD Cowen restated a “buy” rating and issued a $30.00 price target on shares of DraftKings in a research report on Monday, June 8th. UBS Group lifted their target price on DraftKings from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, June 5th. New Street Research set a $29.00 target price on DraftKings in a research note on Monday, June 1st. Truist Financial dropped their target price on DraftKings from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Guggenheim restated a “buy” rating and set a $35.00 price target on shares of DraftKings in a research note on Wednesday, June 24th. One equities research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.24.

Insider Activity

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the transaction, the director directly owned 29,820 shares of the company’s stock, valued at approximately $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of DraftKings stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the sale, the insider owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. The trade was a 10.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,596 shares of company stock worth $2,756,991 over the last 90 days. 47.18% of the stock is currently owned by company insiders.

DraftKings Price Performance

DraftKings stock opened at $25.89 on Friday. DraftKings Inc. has a one year low of $20.46 and a one year high of $48.78. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.02 and a current ratio of 1.02. The business has a fifty day moving average of $25.29 and a two-hundred day moving average of $26.76. The company has a market cap of $12.84 billion, a P/E ratio of 431.50 and a beta of 1.65.

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

DraftKings 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.