Mirae Asset Global Investments Co. Ltd. Has $1.86 Million Holdings in DraftKings Inc. (NASDAQ:DKNG)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 22.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,559 shares of the company's stock after purchasing an additional 9,706 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in DraftKings were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of DKNG. Illinois Municipal Retirement Fund lifted its stake in shares of DraftKings by 14.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 156,754 shares of the company's stock valued at $5,206,000 after purchasing an additional 19,914 shares during the period. Diversified Trust Co lifted its stake in DraftKings by 9.6% in the first quarter. Diversified Trust Co now owns 67,517 shares of the company's stock valued at $2,242,000 after buying an additional 5,910 shares during the period. Total Wealth Planning & Management Inc. lifted its stake in DraftKings by 8.0% in the first quarter. Total Wealth Planning & Management Inc. now owns 7,050 shares of the company's stock valued at $234,000 after buying an additional 523 shares during the period. Tranquility Partners LLC acquired a new stake in shares of DraftKings in the 1st quarter valued at approximately $528,000. Finally, Golden State Wealth Management LLC raised its position in shares of DraftKings by 150.6% in the 1st quarter. Golden State Wealth Management LLC now owns 4,921 shares of the company's stock valued at $163,000 after acquiring an additional 2,957 shares during the period. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on DKNG shares. Sanford C. Bernstein began coverage on shares of DraftKings in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $46.00 price target on the stock. Guggenheim dropped their price objective on DraftKings from $61.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Northland Securities set a $50.00 price objective on DraftKings in a research note on Friday, April 25th. Bank of America dropped their price target on DraftKings from $60.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Benchmark raised their price target on DraftKings from $44.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.90.

DraftKings Stock Performance

DKNG traded down $0.19 on Monday, reaching $40.58. The company had a trading volume of 8,144,412 shares, compared to its average volume of 9,702,781. DraftKings Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $53.61. The stock has a market cap of $36.09 billion, a P/E ratio of -48.89, a P/E/G ratio of 1.05 and a beta of 1.67. The company's fifty day moving average is $37.16 and its 200 day moving average is $38.48. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.20 and a current ratio of 1.20.

Insider Transactions at DraftKings

In other DraftKings news, CFO Alan Wayne Ellingson sold 6,829 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $36.77, for a total transaction of $251,102.33. Following the transaction, the chief financial officer owned 171,268 shares in the company, valued at $6,297,524.36. This represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Kalish sold 210,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $37.83, for a total value of $7,944,300.00. Following the sale, the insider directly owned 4,155,130 shares in the company, valued at approximately $157,188,567.90. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,627 shares of company stock worth $19,748,622 over the last three months. Company insiders own 47.08% of the company's stock.

About DraftKings

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.