DraftKings Inc. $DKNG Position Boosted by Future Fund LLC

Future Fund LLC lifted its holdings in DraftKings Inc. (NASDAQ:DKNG) by 51.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 163,901 shares of the company’s stock after acquiring an additional 55,392 shares during the quarter. DraftKings makes up about 1.2% of Future Fund LLC’s portfolio, making the stock its 25th biggest holding. Future Fund LLC’s holdings in DraftKings were worth $3,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in DraftKings by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 44,758,204 shares of the company’s stock worth $1,542,368,000 after buying an additional 1,354,457 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of DraftKings by 50.8% during the 4th quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock valued at $858,893,000 after acquiring an additional 8,524,923 shares during the last quarter. Viking Global Investors LP lifted its position in shares of DraftKings by 27.4% during the 4th quarter. Viking Global Investors LP now owns 19,119,912 shares of the company’s stock valued at $658,872,000 after acquiring an additional 4,116,561 shares during the last quarter. Capital World Investors boosted its stake in shares of DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after acquiring an additional 12,008,357 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of DraftKings by 41.0% during the 4th quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock worth $567,694,000 after acquiring an additional 4,788,337 shares in the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

DraftKings Trading Up 0.4%

NASDAQ DKNG opened at $24.94 on Friday. The firm’s 50 day moving average price is $25.81 and its two-hundred day moving average price is $26.15. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.02 and a current ratio of 1.02. DraftKings Inc. has a twelve month low of $20.46 and a twelve month high of $48.78. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 415.67 and a beta of 1.65.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. DraftKings had a net margin of 0.93% and a return on equity of 13.51%. DraftKings’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) EPS. Equities analysts anticipate that DraftKings Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling at DraftKings

In related news, insider R Stanton Dodge sold 62,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the transaction, the insider directly owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. The trade was a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Woodrow Levin sold 34,234 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total transaction of $880,156.14. Following the completion of the sale, the director owned 29,820 shares of the company’s stock, valued at approximately $766,672.20. The trade was a 53.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 97,596 shares of company stock worth $2,756,991 over the last three months. 47.18% of the stock is owned by insiders.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: JPMorgan Chase raised its price target on DraftKings to $34, signaling continued analyst confidence in the stock’s upside potential. DraftKings (NASDAQ:DKNG) Given New $34.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: One bullish commentary highlighted that DraftKings’ recent selloff appears out of step with its improving profitability, pointing to a 64% increase in adjusted EBITDA as evidence the business is still executing well. DraftKings: A 40 Percent Selloff Runs Contrary To The 64 Percent Adjusted EBITDA Increase
• Neutral Sentiment: A broader casino-stocks roundup kept DraftKings on investors’ radar, but did not add a major new catalyst specific to the company. Casino Stocks To Keep An Eye On – July 14th
• Neutral Sentiment: DraftKings also announced legal action against Philadelphia after receiving a subpoena, seeking to halt an enforcement probe tied to consumer law issues. While the move may protect the company, it also underscores ongoing regulatory risk. DraftKings sues Philadelphia to end enforcement probe following subpoena, block consumer law
• Negative Sentiment: Short-seller The Bear Cave renewed its bearish case, arguing prediction markets could pull users away from DraftKings’ sportsbook business and that this competitive threat is not fully reflected in the stock price. Bear Cave Renews DraftKings Bear Case on Prediction Market Momentum
• Negative Sentiment: DraftKings was also covered in reports noting it fell more than the broader market in the latest session, reflecting continued investor caution around the name. Here's Why DraftKings (DKNG) Fell More Than Broader Market

Analyst Upgrades and Downgrades

DKNG has been the topic of a number of recent analyst reports. Freedom Capital raised DraftKings to a “strong-buy” rating in a research report on Wednesday, May 20th. Susquehanna decreased their price target on DraftKings from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Wednesday, July 1st. Wells Fargo & Company reissued an “overweight” rating and issued a $32.00 price target on shares of DraftKings in a research note on Sunday, May 10th. Zacks Research raised DraftKings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Guggenheim restated a “buy” rating and set a $35.00 price objective on shares of DraftKings in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.56.

DraftKings 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.