DraftKings Inc. (DKNG) makes -2.82% fall – What does that mean for its investors?

DraftKings Inc. (NASDAQ: DKNG) is 2.19% higher on its value in year-to-date trading and has touched a low of $10.60 and a high of $64.19 in the current 52-week trading range. The DKNG stock was last observed hovering at around $44.86 in the last trading session, with the day’s gains setting it 2.72% off its average median price target of $60.00 for the next 12 months. It is also 52.42% off the consensus price target high of $100.00 offered by 26 analysts, but current levels are -22.0% lower than the price target low of $39.00 for the same period.

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Currently trading at $47.58, the stock is -5.81% and 2.16% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 15.05 million and changing 6.06% at the moment leaves the stock 28.25% off its SMA200. DKNG registered 340.56% gain for a year compared to 6-month gain of 55.49%. The firm has a 50-day simple moving average (SMA 50) of $49.94 and a 200-day simple moving average (SMA200) of $42.79.

The stock witnessed a -4.95% loss in the last 1 month and extending the period to 3 months gives it a -21.42%, and is -2.82% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.82% over the week and 6.16% over the month.

DraftKings Inc. (DKNG) has around 2 employees, a market worth around $19.59B and $292.30M in sales. Distance from 52-week low is 348.87% and -25.88% from its 52-week high.

DraftKings Inc. (DKNG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for DraftKings Inc. (DKNG) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 2.20, where 10 rate it as a Hold and 0 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

DraftKings Inc. quarterly earnings per share for the current quarter are estimated at -$0.46 with sales reaching $231.31M over the same period..

DraftKings Inc. (DKNG) Top Institutional Holders

491 institutions hold shares in DraftKings Inc. (DKNG), with 63.14M shares held by insiders accounting for 16.12% while institutional investors hold 54.75% of the company’s shares. The shares outstanding are 355.90M, and float is at 328.13M with Short Float at 6.26%. Institutions hold 45.93% of the Float.

The top institutional shareholder in the company is Raine Capital Llc with over 21.72 million shares valued at $1.28 billion. The investor’s holdings represent 5.54% of the DKNG Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 20.76 million shares valued at $1.22 billion to account for 5.30% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 19.19 million shares representing 4.90% and valued at over $1.13 billion, while Wellington Management Company, LLP holds 3.75% of the shares totaling 14.69 million with a market value of $864.25 million.

DraftKings Inc. (DKNG) Insider Activity

The most recent transaction is an insider sale by MURRAY STEVEN JOSEPH, the company’s Director. SEC filings show that MURRAY STEVEN JOSEPH sold 1,545,924 shares of the company’s common stock on Oct 09 at a price of $50.83 per share for a total of $78.58 million. Following the sale, the insider now owns 5.21 million shares.

DraftKings Inc. disclosed in a document filed with the SEC on Oct 09 that Meckenzie Shalom (Director) sold a total of 6,949,088 shares of the company’s common stock. The trade occurred on Oct 09 and was made at $50.83 per share for $353.22 million. Following the transaction, the insider now directly holds 23.61 million shares of the DKNG stock.

Still, SEC filings show that on Oct 09, Nada Hany M (Director) disposed off 946,712 shares at an average price of $50.83 for $48.12 million. The insider now directly holds 5,364,703 shares of DraftKings Inc. (DKNG).

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