Westpac Banking Corp Purchases 20,048 Shares of DraftKings Inc. $DKNG

Posted by George Bondi on Jun 4th, 2026

Westpac Banking Corp increased its position in DraftKings Inc. (NASDAQ:DKNG – Free Report) by 70.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,408 shares of the company’s stock after buying an additional 20,048 shares during the quarter. Westpac Banking Corp’s holdings in DraftKings were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DKNG. Viking Global Investors LP bought a new stake in DraftKings in the 3rd quarter worth approximately $561,125,000. Norges Bank bought a new stake in DraftKings in the fourth quarter valued at approximately $284,466,000. 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 purchasing 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 purchasing an additional 1,517,413 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position 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 last quarter. Institutional investors own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DKNG. Morgan Stanley reiterated an “overweight” rating on shares of DraftKings in a research report on Thursday, May 21st. Oppenheimer lowered their price objective on DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Benchmark reiterated a “buy” rating on shares of DraftKings in a research report on Monday. Scotiabank upgraded DraftKings to an “outperform” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded DraftKings from a “hold” rating to a “hold” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and an average price target of $34.15.

Check Out Our Latest Stock Analysis on DKNG

Insider Buying and Selling

In related news, insider Paul Liberman sold 484,417 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total value of $12,187,931.72. Following the sale, the insider directly owned 213,597 shares of the company’s stock, valued at $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Woodrow Levin sold 34,234 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the completion of the sale, the director directly owned 29,820 shares in the company, valued at approximately $766,672.20. The trade was a 53.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 521,663 shares of company stock valued at $13,144,962 over the last ninety days. Company insiders own 47.18% of the company’s stock.

DraftKings Price Performance

DKNG opened at $25.12 on Thursday. 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 52-week low of $20.46 and a 52-week high of $48.78. The stock has a market capitalization of $12.46 billion, a PE ratio of 418.62 and a beta of 1.66. The stock’s 50 day moving average price is $23.69 and its 200-day moving average price is $27.66.

DraftKings (NASDAQ:DKNG – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a net margin of 0.93% and a return on equity of 13.51%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm posted ($0.07) earnings per share. DraftKings’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that DraftKings Inc. will post 0.6 EPS for the current year.

DraftKings Company 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.

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.