DraftKings Inc. $DKNG Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 43.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,250 shares of the company’s stock after acquiring an additional 44,950 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in DraftKings were worth $3,205,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Viking Global Investors LP acquired a new stake in DraftKings in the 3rd quarter valued at about $561,125,000. Capital World Investors lifted its stake in DraftKings by 181.4% in the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after purchasing an additional 12,008,357 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of DraftKings by 50.8% during the 4th quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after purchasing an additional 8,524,923 shares during the last quarter. Norges Bank purchased a new stake in shares of DraftKings in the fourth quarter valued at approximately $284,466,000. Finally, AQR Capital Management LLC grew its position in shares of DraftKings by 41.0% in the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock valued at $567,694,000 after purchasing an additional 4,788,337 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

NASDAQ:DKNG opened at $26.21 on Tuesday. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $13.00 billion, a P/E ratio of 199.15 and a beta of 1.65. The stock’s fifty day moving average is $25.36 and its two-hundred day moving average is $26.69.

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

Insider Activity

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the sale, the director directly owned 29,820 shares in the company, valued at $766,672.20. This trade represents a 53.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 62,500 shares of the business’s 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 completion of the sale, the insider directly owned 556,258 shares in the company, valued at $16,509,737.44. This trade represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,596 shares of company stock valued at $2,756,991. 47.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of analyst reports. Wedbush initiated coverage on DraftKings in a research report on Friday, April 24th. They set an “outperform” rating on the stock. Guggenheim reaffirmed a “buy” rating and issued a $35.00 target price on shares of DraftKings in a research note on Wednesday, June 24th. Susquehanna reduced their price target on DraftKings from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Wednesday, July 1st. Barclays boosted their price target on shares of DraftKings from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, New Street Research set a $29.00 price objective on shares of DraftKings in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.24.

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.