DraftKings Inc. (NASDAQ:DKNG) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,485 shares of the company’s stock after purchasing an additional 1,999 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in DraftKings were worth $3,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Stratos Wealth Advisors LLC boosted its stake in DraftKings by 3.8% during the fourth quarter. Stratos Wealth Advisors LLC now owns 10,289 shares of the company’s stock worth $363,000 after buying an additional 381 shares during the period. Allworth Financial LP boosted its stake in shares of DraftKings by 36.8% in the fourth quarter. Allworth Financial LP now owns 2,606 shares of the company’s stock valued at $92,000 after purchasing an additional 701 shares during the period. Highlander Capital Management LLC boosted its stake in shares of DraftKings by 180.0% in the fourth quarter. Highlander Capital Management LLC now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares during the period. International Assets Investment Management LLC purchased a new position in shares of DraftKings in the fourth quarter valued at approximately $7,975,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of DraftKings by 6.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 162,966 shares of the company’s stock valued at $5,846,000 after purchasing an additional 10,037 shares during the period. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $37.82, for a total value of $7,564,000.00. Following the completion of the transaction, the insider now owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Jason Robins sold 200,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $37.82, for a total transaction of $7,564,000.00. Following the completion of the transaction, the insider now directly owns 3,815,698 shares in the company, valued at approximately $144,309,698.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the sale, the insider now directly owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,596,101 shares of company stock worth $65,685,509. 51.19% of the stock is currently owned by company insiders.

DraftKings Price Performance

DraftKings stock opened at $44.94 on Wednesday. DraftKings Inc. has a 52 week low of $19.10 and a 52 week high of $49.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.49. The firm’s 50-day simple moving average is $43.87 and its 200 day simple moving average is $37.78. The firm has a market capitalization of $38.95 billion, a PE ratio of -25.68 and a beta of 1.86.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Friday, February 16th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.16). DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company earned ($0.53) EPS. The company’s revenue was up 43.9% compared to the same quarter last year. On average, equities research analysts predict that DraftKings Inc. will post -0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DKNG. Susquehanna raised their price objective on shares of DraftKings from $51.00 to $54.00 and gave the company a “positive” rating in a research note on Monday, March 25th. UBS Group raised their price objective on shares of DraftKings from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Piper Sandler raised their target price on shares of DraftKings from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley raised their target price on shares of DraftKings from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, BNP Paribas cut shares of DraftKings from a “neutral” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.93.

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.