US Bancorp DE Trims Stock Position in DraftKings Inc. $DKNG

Key Points

• US Bancorp DE cut its stake in DraftKings by 61.9% in Q4, selling 563,129 shares and now holds 346,634 shares valued at about $11.95 million (≈0.07% of the company).
• Insider moves included co‑founder Paul Liberman selling 484,417 shares at an average $25.16 (~$12.19M), reducing his holding by 69.4%, while director Harry Sloan bought 100,000 shares at $21.85; insiders now own 47.18% of the stock.
• Large institutions meanwhile added exposure—Viking Global initiated a roughly $561M stake and Vanguard increased to 44.76M shares (~$1.54B)—and analysts show a consensus "Moderate Buy" with an average price target of $34.84.

US Bancorp DE cut its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 61.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 346,634 shares of the company's stock after selling 563,129 shares during the period. US Bancorp DE owned about 0.07% of DraftKings worth $11,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DKNG. Viking Global Investors LP purchased a new stake in DraftKings in the third quarter valued at $561,125,000. AQR Capital Management LLC lifted its position in DraftKings by 63.5% in the third quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company's stock valued at $437,044,000 after acquiring an additional 4,538,007 shares during the last quarter. Eminence Capital LP lifted its position in DraftKings by 31.9% in the third quarter. Eminence Capital LP now owns 6,274,863 shares of the company's stock valued at $234,680,000 after acquiring an additional 1,517,413 shares during the last quarter. Vanguard Group Inc. increased its stake in DraftKings by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company's stock valued at $1,542,368,000 after purchasing an additional 1,354,457 shares during the period. Finally, Nordea Investment Management AB increased its stake in DraftKings by 208.8% in the fourth quarter. Nordea Investment Management AB now owns 1,300,308 shares of the company's stock valued at $45,329,000 after purchasing an additional 879,181 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Liberman sold 484,417 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were 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 in the company, valued at $5,374,100.52. The trade was a 69.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry Sloan purchased 100,000 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the purchase, the director owned 350,219 shares of the company's stock, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 496,718 shares of company stock valued at $12,477,308. 47.18% of the stock is owned by insiders.

DraftKings Trading Down 1.4%

Shares of DraftKings stock opened at $23.00 on Friday. DraftKings Inc. has a 52-week low of $20.46 and a 52-week high of $48.78. 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 simple moving average is $23.42 and its 200-day simple moving average is $28.74. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of -575.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.67.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America dropped their price objective on shares of DraftKings from $37.50 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, February 13th. Raymond James Financial upgraded shares of DraftKings from a "market perform" rating to an "outperform" rating in a research note on Friday, April 24th. Sanford C. Bernstein restated an "outperform" rating and issued a $30.00 price objective on shares of DraftKings in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft lowered shares of DraftKings from a "hold" rating to a "hold" rating in a research note on Friday, April 24th. Finally, Susquehanna dropped their price objective on shares of DraftKings from $33.00 to $32.00 and set a "positive" rating on the stock in a research note on Tuesday, March 31st. Twenty-seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.84.

About DraftKings

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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