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

Key Points

• Mitsubishi UFJ Asset Management reduced its DraftKings stake by 9.6% in Q4, selling 47,353 shares and ending with 443,606 shares worth about $15.8 million.
• Analysts remain mostly constructive on DraftKings, with a consensus rating of Moderate Buy and an average price target of $34.69, though several firms recently trimmed targets or downgraded the stock.
• DraftKings reported Q1 revenue of $1.65 billion, beating estimates and rising 16.8% year over year, but EPS of $0.20 slightly missed forecasts; the company also reiterated full-year revenue guidance of roughly $6.5 billion to $6.9 billion.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 443,606 shares of the company's stock after selling 47,353 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of DraftKings worth $15,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Dagco Inc. purchased a new stake in DraftKings during the 4th quarter valued at about $26,000. Ameriflex Group Inc. increased its stake in DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company's stock worth $30,000 after purchasing an additional 405 shares during the period. Root Financial Partners LLC bought a new stake in DraftKings in the third quarter valued at approximately $33,000. Asset Dedication LLC bought a new stake in DraftKings in the third quarter valued at approximately $37,000. Finally, Montag A & Associates Inc. boosted its stake in shares of DraftKings by 82.5% during the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company's stock valued at $38,000 after purchasing an additional 500 shares during the period. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DKNG. Truist Financial cut their target price on shares of DraftKings from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Argus cut shares of DraftKings from a "buy" rating to a "hold" rating in a research report on Tuesday, March 17th. HSBC raised shares of DraftKings from a "hold" rating to a "hold" rating in a report on Friday, April 24th. Barclays decreased their price objective on shares of DraftKings from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Finally, Mizuho lowered their price objective on shares of DraftKings from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, February 17th. Twenty-seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.69.

DraftKings Price Performance

Shares of DraftKings stock opened at $25.52 on Monday. The business has a 50 day moving average of $23.56 and a 200 day moving average of $28.48. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78. The company has a market cap of $12.65 billion, a PE ratio of 425.33, a P/E/G 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.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 12.71%. The business's revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. As a group, equities research analysts forecast that DraftKings Inc. will post 0.56 earnings per share for the current year.

Key Stories Impacting 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

Insider Activity at DraftKings

In related news, Director Harry Sloan purchased 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the purchase, the director directly owned 350,219 shares in the company, valued at approximately $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Erik Bradbury sold 2,883 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $24.56, for a total transaction of $70,806.48. Following the completion of the sale, the chief accounting officer owned 38,168 shares of the company's stock, valued at $937,406.08. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 496,718 shares of company stock valued at $12,477,308. 47.18% of the stock is currently owned by company insiders.

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.

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