Sumitomo Mitsui Trust Group Inc. Acquires 433,963 Shares of DraftKings Inc. $DKNG

13 Apr 2026, 06:22 by Teresa Graham · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of DraftKings Inc. (NASDAQ:DKNG – Free Report) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,370,903 shares of the company’s stock after buying an additional 433,963 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DraftKings were worth $150,621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DKNG. Integrated Wealth Concepts LLC lifted its holdings in shares of DraftKings by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after acquiring an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of DraftKings by 1,141.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after acquiring an additional 40,495 shares during the period. Empowered Funds LLC lifted its holdings in shares of DraftKings by 18.0% during the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock worth $303,000 after acquiring an additional 1,391 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of DraftKings during the 2nd quarter worth approximately $603,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of DraftKings by 2.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 44,102 shares of the company’s stock worth $1,892,000 after acquiring an additional 968 shares during the period. Institutional investors own 37.70% of the company’s stock.

DraftKings Price Performance

DKNG stock opened at $22.23 on Monday. The company has a 50 day simple moving average of $23.99 and a 200 day simple moving average of $30.00. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of -555.75, a P/E/G ratio of 0.89 and a beta of 1.68. DraftKings Inc. has a 1 year low of $20.46 and a 1 year high of $48.78. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03.

Insider Buying and Selling at DraftKings

In related news, CAO Erik Bradbury sold 7,268 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the completion of the transaction, the chief accounting officer directly owned 36,736 shares in the company, valued at $826,560. This represents a 16.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 549,495 shares of company stock worth $14,166,700 over the last 90 days. 47.18% of the stock is owned by corporate insiders.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, which provides some institutional support for the shares. DraftKings Inc. (NASDAQ:DKNG) Receives Consensus Recommendation of “Moderate Buy” from Analysts
Positive Sentiment: A Wells Fargo analyst reiterated expectations that DKNG’s stock could rise, offering a counterpoint to recent bearish headlines. DraftKings (NASDAQ:DKNG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
Neutral Sentiment: A valuation piece highlights DraftKings’ large $6.1B revenue base but notes the stock has underperformed, framing the stock as a big but currently stressed operator. Assessing DraftKings (DKNG) Valuation As Shares Struggle Despite A US$6.1b Revenue Base
Neutral Sentiment: 24/7 Wall St. publishes a near-term “hold” price target (~$24), signaling analysts see limited upside without clearer execution. DraftKings Price Prediction: Where The Stock Is Going This Year
Neutral Sentiment: Short-interest data reported as zero appears to be a data anomaly and offers no clear signal on incremental bearish positioning. (Internal short-interest report)
Neutral Sentiment: Market roundup pieces list DraftKings among movers, but they don’t add material fresh catalysts. G-III, DraftKings, Matthews, PVH, and Columbia Sportswear Shares Skyrocket, What You Need To Know
Negative Sentiment: Investors are spooked by DraftKings’ heavy upfront investment in its Predictions product — tens of millions in costs with no 2026 revenue assumed — weighing on near-term margins and sentiment. DKNG’s Predictions Bet: Are Upfront Costs Clouding Near-Term Outlook?
Negative Sentiment: Coverage reports the stock “cratered” intraday (~6% drop) as investors reacted to product-cost concerns, contributing to the recent drawdown. DraftKings Craters 6% as Predictions Product Costs Spook Investors
Negative Sentiment: Opinion pieces urging investors to sell cite the stock’s sharp six‑month decline and softer results, increasing downside pressure from retail and momentum sellers. 3 Reasons to Sell DKNG and 1 Stock to Buy Instead
Negative Sentiment: Regulatory risk: reports that Ohio is considering sports-betting limits add jurisdictional uncertainty that could cap growth in a meaningful US market. DraftKings stock falls as Ohio mulls sports betting limits

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna cut their price target on shares of DraftKings from $33.00 to $32.00 and set a “positive” rating for the company in a report on Tuesday, March 31st. Jefferies Financial Group set a $46.00 price target on shares of DraftKings in a report on Tuesday, March 3rd. Argus downgraded shares of DraftKings from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. UBS Group cut their price target on shares of DraftKings from $53.00 to $43.00 and set a “buy” rating for the company in a report on Monday, March 16th. Finally, Stifel Nicolaus cut their price target on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Twenty-five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.23.

Check Out Our Latest Stock Report on DraftKings

DraftKings Profile

(Free Report)

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.