IMA Wealth Inc. lowered its shares in DraftKings Inc. (NASDAQ:DKNG – Get Rating) by 16.7% in the third quarter, according to its latest Form 13F filed with the SEC. The institutional investor owned 140,102 shares in the company after selling his 28,033 shares during the period. IMA Wealth Inc.’s holdings in DraftKings were valued at $2,121,000 as of the latest filing with the SEC.
Several other institutional investors have also recently changed their holdings of DKNG. Quent Capital LLC increased its stake in DraftKings by 136.9% in the second quarter. Quent Capital LLC now owns 2,132 shares worth $25,000 after purchasing an additional 1,232 of his shares last quarter. Allworth Financial LP increased its position in DraftKings by 136.0% in the third quarter. Allworth Financial LP now owns 1,631 shares worth $25,000 after purchasing an additional 940 shares last quarter. SJS Investment Consulting Inc. purchased a new position worth approximately $26,000 in DraftKings in the third quarter. Ellevest Inc. increased its position in DraftKings by 1,005.5% in the third quarter. Ellevest Inc. now owns 2,012 shares of the company worth $30,000 after purchasing an additional 1,830 of his shares last quarter. Lastly, Mine & Arao Wealth Creation & Management LLC. increased its position in DraftKings by 146.6% in Q2. Mine & Arao Wealth Creation & Management LLC. now owns 2,860 shares worth $33,000 after purchasing an additional 1,700 shares last quarter. Institutional investors own 30.60% of the company’s shares.
DraftKings stock up 1.5%
DKNG shares climbed $0.29 to reach $19.03 during Friday’s trading hours. His 5,686,702 shares in the company traded, but the average trading volume was 14,178,994 of his shares. The stock has a 50-day moving average of $15.97 and a 200-day moving average of $15.21. His one year low on DraftKings Inc. is $9.77 and his one year high is $21.62.
DraftKings (NASDAQ:DKNG – Get Rating) last announced quarterly earnings data on Thursday, February 16th. The company reported his EPS of ($0.53) for the quarter, beating analyst consensus expectations ($0.63) by $0.10. The business generated $855 million in revenue for the quarter, compared with analyst estimates of $799.29 million. DraftKings had a net profit margin of 61.51% and a return on equity of 87.08%. The company’s quarterly revenue increased 80.8% year-on-year. During the same quarter last year, the business earned his earnings per share ($0.80). On average, equity research analysts expect DraftKings Inc. to post earnings per share of -2.07 this year.
Wall Street analyst opinion
Several research firms are considering DKNG. Needham & Company LLC increased its price target for DraftKings stock from $20.00 to $28.00 in a research report on Tuesday, February 21. JPMorgan Chase & Co. downgraded DraftKings’ stock from Neutral to Underweight with a price target of $12.00. In an investigative report on Monday, November 28th. Roth Mkm has downgraded DraftKings’ stock from ‘neutral’ to ‘sell’ and has set a price target of $15.00. In a report on Thursday, February 9th. BTIG Research upgraded DraftKings’ stock from Neutral to Buy with a price target of $24.00 in a report on Friday, February 17th. Finally, Canaccord Genuity Group raised its price target on DraftKings shares from $28.00 to $30.00, giving the company a “buy” rating in its report on Tuesday, February 21. Six analysts gave sell ratings, six gave hold ratings, and 17 analysts assigned buy ratings to the company. Based on MarketBeat data, the stock has an average rating of Hold and a consensus price target of $22.43.
In related news, CAO Erik Bradbury sold 18,975 shares in the company in a transaction on Friday, February 17th. The shares sold at an average price of $20.69, giving him a total of $392,592.75. After the sale, the Chief Accounting Officer now owns 25,721 shares of the company stock valued at $532,167.49. The transaction was disclosed in legal filings with the SEC that can be accessed via this hyperlink. In related news, CAO Erik Bradbury sold 18,975 shares in the company in a transaction on Friday, February 17th. The shares sold at an average price of $20.69, giving him a total of $392,592.75. After the sale, the Chief Accounting Officer now owns 25,721 shares of the company stock valued at $532,167.49. The transaction was disclosed in legal filings with the SEC that can be accessed via this hyperlink. Insider Matthew Kalish also sold 275,025 shares in the company in a transaction on Tuesday, March 7th. The shares sold for an average of $19.42, and the total trading value he had was $5,340,985.50. Following the closing of the sale, the insider now owns directly his 3,671,914 shares in the company, valued at approximately $71,308,569.88. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 862,220 shares of his company stock worth $16,578,604. The insider owns his 55.92% of the company’s shares.
DraftKings Company Profile
DraftKings Inc operates a digital sports entertainment and gaming company. We provide multi-channel sports betting and gaming technology, providing sports and gaming entertainment to operators in 17 countries. The company operates iGaming through the DraftKings brand in his five states and iGaming products and games brand, Golden Nugget Online Gaming, in three states.
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