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DraftKings Inc. (DKNG) – key numbers that make it a Strong Buy For Now

DraftKings Inc. (NASDAQ: DKNG) is 26.84% higher on its value in year-to-date trading and has touched a low of $17.42 and a high of $49.57 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The DKNG stock was last observed hovering at around $44.94 in the last trading session, with the day’s loss setting it -0.23%.

Currently trading at $44.71, the stock is 1.16% and 5.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.39 million and changing -0.51% at the moment leaves the stock 31.48% off its SMA200. DKNG registered 136.44% gain for a year compared to 6-month gain of 51.87%. The firm has a 50-day simple moving average (SMA 50) of $5.82 and a 200-day simple moving average (SMA200) of -$36.37.

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The stock witnessed a 2.71% loss in the last 1 month and extending the period to 3 months gives it a 26.84%, and is -5.52% 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 4.73% over the week and 4.20% over the month.

DraftKings Inc. (DKNG) has around 4400 employees, a market worth around $21.18B and $3.67B in sales. Fwd P/E is 59.75. Profit margin for the company is -21.88%. Distance from 52-week low is 156.66% and -9.80% from its 52-week high. The company has generated returns on investments over the last 12 months (-36.88%).

DraftKings Inc. quarterly earnings per share for the current quarter are estimated at -$0.28 with sales reaching $1.11B over the same period.The EPS is expected to grow by 89.52% this year, but quarterly earnings will post 31.10% year-over-year. Quarterly sales are estimated to grow 44.90% in year-over-year returns.

DraftKings Inc. (DKNG) Top Institutional Holders

917 institutions hold shares in DraftKings Inc. (DKNG), with institutional investors hold 71.59% of the company’s shares. The shares outstanding are 472.70M, and float is at 453.19M with Short Float at 3.86%. Institutions hold 69.52% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 36.93 million shares valued at $981.2 million. The investor’s holdings represent 7.96% of the DKNG Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 17.78 million shares valued at $472.4 million to account for 3.83% of the shares outstanding. The other top investors are ARK Investment Management, LLC which holds 14.63 million shares representing 3.15% and valued at over $430.64 million, while Nikko Asset Management Americas, Inc. holds 2.36% of the shares totaling 10.95 million with a market value of $290.87 million.

DraftKings Inc. (DKNG) Insider Activity

The most recent transaction is an insider sale by Robins Jason. SEC filings show that Robins Jason sold 200,000 shares of the company’s common stock on Feb 21 ’24 at a price of $40.89 per share for a total of $8.18 million. Following the sale, the insider now owns 3.2 million shares.

DraftKings Inc. disclosed in a document filed with the SEC on Feb 08 ’24 that Dodge R Stanton (Chief Legal Officer) sold a total of 686,101 shares of the company’s common stock. The trade occurred on Feb 08 ’24 and was made at $43.06 per share for $29.54 million. Following the transaction, the insider now directly holds 0.2 million shares of the DKNG stock.

Still, SEC filings show that on Feb 08 ’24, Robins Jason () disposed off 450,000 shares at an average price of $43.06 for $19.38 million. The insider now directly holds 3,373,637 shares of DraftKings Inc. (DKNG).

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