TD Waterhouse Canada Inc. Has $6.66 Million Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

TD Waterhouse Canada Inc. boosted its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 6,408.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,244 shares of the company's stock after purchasing an additional 176,490 shares during the period. TD Waterhouse Canada Inc.'s holdings in DraftKings were worth $6,664,000 as of its most recent SEC filing.

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A number of other institutional investors also recently added to or reduced their stakes in DKNG. Vanguard Group Inc. boosted its stake in DraftKings by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 43,073,314 shares of the company's stock valued at $1,602,327,000 after buying an additional 584,452 shares in the last quarter. FMR LLC lifted its holdings in shares of DraftKings by 110.6% during the fourth quarter. FMR LLC now owns 13,617,448 shares of the company's stock valued at $506,569,000 after acquiring an additional 7,150,382 shares during the period. Geode Capital Management LLC boosted its stake in shares of DraftKings by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 8,075,009 shares of the company's stock valued at $299,921,000 after purchasing an additional 89,988 shares in the last quarter. Norges Bank acquired a new stake in shares of DraftKings during the 4th quarter worth about $276,328,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in DraftKings by 18.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,797,507 shares of the company's stock valued at $252,867,000 after purchasing an additional 1,036,763 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jocelyn Moore sold 3,420 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.00, for a total value of $143,640.00. Following the sale, the director now directly owns 1,612 shares in the company, valued at $67,704. The trade was a 67.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Liberman sold 643,654 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $38.95, for a total value of $25,070,323.30. Following the transaction, the insider now directly owns 682,764 shares of the company's stock, valued at $26,593,657.80. This represents a 48.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,575,525 shares of company stock worth $109,441,446 over the last ninety days. Company insiders own 51.19% of the company's stock.

Analyst Ratings Changes

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DKNG has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on shares of DraftKings from $57.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday. Canaccord Genuity Group lifted their price objective on DraftKings from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company increased their target price on DraftKings from $53.00 to $60.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Benchmark upped their price target on shares of DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Morgan Stanley raised their price objective on shares of DraftKings from $49.00 to $53.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.46.

Get Our Latest Research Report on DraftKings

DraftKings Stock Performance

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DKNG stock opened at $33.47 on Wednesday. DraftKings Inc. has a 1-year low of $28.69 and a 1-year high of $53.61. The business's 50-day moving average price is $38.69 and its two-hundred day moving average price is $39.61. The firm has a market cap of $29.55 billion, a PE ratio of -31.58, a P/E/G ratio of 1.43 and a beta of 2.16. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24.

DraftKings (NASDAQ:DKNG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative net margin of 10.64% and a negative return on equity of 48.13%. As a group, research analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.

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