Mitsubishi UFJ Asset Management Co. Ltd. Sells 47,353 Shares of DraftKings Inc. $DKNG

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of DraftKings Inc. (NASDAQ:DKNG) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 443,606 shares of the company’s stock after selling 47,353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DraftKings were worth $15,819,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Dagco Inc. purchased a new stake in shares of DraftKings in the 4th quarter worth about $26,000. Ameriflex Group Inc. lifted its position in DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC purchased a new position in DraftKings during the 3rd quarter valued at about $33,000. Asset Dedication LLC bought a new stake in DraftKings during the third quarter worth about $37,000. Finally, Montag A & Associates Inc. boosted its stake in DraftKings by 82.5% during the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 37.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DKNG. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $30.00 target price on shares of DraftKings in a research note on Thursday, March 5th. Susquehanna dropped their price target on DraftKings from $33.00 to $32.00 and set a “positive” rating on the stock in a research report on Tuesday, March 31st. HSBC raised DraftKings from a “hold” rating to a “hold” rating in a research report on Friday, April 24th. Raymond James Financial upgraded DraftKings from a “market perform” rating to an “outperform” rating in a research note on Friday, April 24th. Finally, Northland Securities set a $24.00 target price on DraftKings in a report on Tuesday, February 17th. Twenty-seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.69.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Revenue for Q1 came in at $1.65 billion, beating Wall Street estimates and rising about 17% year over year, helped by strong betting margins and continued customer engagement. DraftKings shares gain as Q1 revenue tops estimates on strong betting margins
• Positive Sentiment: DraftKings swung to a profit of $21.1 million, a notable improvement from a loss a year ago, suggesting operating leverage is starting to show through. DraftKings Swings to First-Quarter Profit on Better Sportsbook Margins
• Positive Sentiment: BTIG raised its price target on DraftKings to $30 from $28 and kept a buy rating, signaling continued analyst confidence after the earnings release. Benzinga reference
• Neutral Sentiment: Adjusted earnings of $0.20 per share missed estimates by a small margin, which may limit upside until investors see more consistent EPS execution. DraftKings Reports Strong Start To 2026 With Q1 Double Beat
• Neutral Sentiment: The company reiterated full-year revenue guidance of roughly $6.5 billion to $6.9 billion, which was broadly in line with expectations and suggests management remains cautious but stable on the outlook. DraftKings beats profit estimates but guides below views
• Negative Sentiment: Some investors may focus on the earnings miss and the stock’s below-consensus guidance, which could temper enthusiasm after the strong revenue beat. DraftKings (DKNG) Q1 Earnings Lag Estimates

Insiders Place Their Bets

In other news, insider Paul Liberman sold 484,417 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total transaction of $12,187,931.72. Following the transaction, the insider directly owned 213,597 shares of the company’s stock, valued at $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jocelyn Moore sold 2,150 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $55,040.00. Following the sale, the director directly owned 1,406 shares in the company, valued at $35,993.60. This trade represents a 60.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 496,718 shares of company stock worth $12,477,308 over the last three months. Company insiders own 47.18% of the company’s stock.

DraftKings Stock Performance

NASDAQ:DKNG opened at $25.52 on Monday. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 425.33, a PEG ratio of 1.20 and a beta of 1.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. The company’s 50 day moving average price is $23.56 and its 200-day moving average price is $28.48. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 12.71%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company posted ($0.07) earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts forecast that DraftKings Inc. will post 0.56 earnings per share for the current fiscal year.

DraftKings Company 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.