Insider Buying: DraftKings (NASDAQ:DKNG) Director Buys 100,000 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) Director Harry Sloan bought 100,000 shares of the 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 purchase, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This trade represents a 39.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

DraftKings Trading Up 4.9%

Shares of DKNG traded up $1.12 during mid-day trading on Wednesday, reaching $23.71. 2,249,726 shares of the company were exchanged, compared to its average volume of 16,379,825. The business has a 50 day simple moving average of $31.69 and a two-hundred day simple moving average of $35.82. DraftKings Inc. has a 52 week low of $21.01 and a 52 week high of $51.15. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10. The stock has a market capitalization of $11.80 billion, a PE ratio of -592.60, a PEG ratio of 0.43 and a beta of 1.67.

Hedge Funds Weigh In On DraftKings

Institutional investors have recently added to or reduced their stakes in the business. Dagco Inc. acquired a new position in DraftKings during the fourth quarter worth approximately $26,000. Ameriflex Group Inc. increased its holdings in shares of DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after buying an additional 405 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of DraftKings in the 3rd quarter worth $33,000. Asset Dedication LLC purchased a new position in shares of DraftKings in the 3rd quarter worth $37,000. Finally, Montag A & Associates Inc. boosted its holdings in DraftKings by 82.5% in the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Meridian Hedged Equity Fund (ArrowMark Partners) reiterated confidence in DraftKings’ earnings outlook in its Q4 2025 investor letter — a sign of institutional support that can help stabilize the stock. Meridian Letter
• Positive Sentiment: Several firms left constructive ratings: Mizuho kept an “outperform” rating with a modest cut to $44 (still a large implied upside), and other shops (Oppenheimer, Needham, Truist) maintained outperform/buy stances despite lower targets — this suggests analysts still expect recovery over time. Analyst Notes
• Neutral Sentiment: DraftKings is a trending stock on market sites and coverage lists (Zacks summary), which can increase volatility as momentum traders and retail investors watch headlines. Zacks Coverage
• Neutral Sentiment: Short‑interest data reported today is effectively meaningless/gapped in the public feed (zeros/NaN), so it’s not currently a clear driver. Market reaction appears driven more by analyst commentary than by a short squeeze dynamic.
• Negative Sentiment: Widespread price‑target cuts from major banks: Goldman Sachs (54 → 31), JPMorgan (41 → 32), Citi (48 → 32), Truist (45 → 33), Oppenheimer (50 → 35), Needham (52 → 35) and others lowered targets—this collective downdraft reduces consensus upside and is the main negative catalyst. Price Target Roundup
• Negative Sentiment: Opinion pieces urging caution (e.g., “Beware of Pinterest and DraftKings”) highlight downside risks and could amplify selling pressure from more conservative investors. BayStreet Caution

Analysts Set New Price Targets

DKNG has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday. Macquarie Infrastructure lowered their price target on DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Rothschild & Co Redburn set a $35.00 target price on DraftKings in a report on Friday, January 30th. Guggenheim set a $37.00 price objective on shares of DraftKings in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their price target on DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday. Twenty-four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

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.