Pitcairn Co. Sells 19,653 Shares of DraftKings Inc. $DKNG

Pitcairn Co. decreased its position in DraftKings Inc. (NASDAQ:DKNG) by 27.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,753 shares of the company’s stock after selling 19,653 shares during the period. Pitcairn Co.’s holdings in DraftKings were worth $1,936,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DKNG. IHT Wealth Management LLC lifted its holdings in shares of DraftKings by 4.1% in the 2nd quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock worth $269,000 after buying an additional 248 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of DraftKings by 3.1% in the third quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after acquiring an additional 321 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in DraftKings by 7.3% in the third quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company’s stock worth $179,000 after acquiring an additional 328 shares during the period. Valeo Financial Advisors LLC lifted its stake in DraftKings by 3.6% in the second quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company’s stock worth $429,000 after acquiring an additional 348 shares during the period. Finally, Huntleigh Advisors Inc. grew its holdings in DraftKings by 0.8% during the 3rd quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company’s stock worth $1,632,000 after acquiring an additional 363 shares in the last quarter. 37.70% of the stock is currently owned by hedge funds and other institutional investors.

DraftKings Price Performance

NASDAQ DKNG opened at $25.46 on Friday. The firm’s fifty day simple moving average is $29.01 and its two-hundred day simple moving average is $34.21. The firm has a market capitalization of $12.55 billion, a P/E ratio of -636.50, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78.

Insider Buying and Selling

In other DraftKings news, CAO Erik Bradbury sold 7,268 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $22.50, for a total value of $163,530.00. Following the completion of the sale, the chief accounting officer owned 36,736 shares of the company’s stock, valued at approximately $826,560. This trade represents a 16.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry Sloan purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the purchase, the director directly owned 350,219 shares of the company’s stock, valued at approximately $7,652,285.15. The trade was a 39.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 62,928 shares of company stock worth $1,923,728 in the last ninety days. 51.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on DKNG. Berenberg Bank set a $26.40 price target on shares of DraftKings in a report on Tuesday, February 24th. Citizens Jmp reissued a “market outperform” rating and set a $38.00 price objective on shares of DraftKings in a report on Tuesday. Jefferies Financial Group set a $46.00 price objective on shares of DraftKings in a research note on Tuesday. Barclays reaffirmed an “overweight” rating on shares of DraftKings in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on DraftKings from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.19.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Company unveiled a consolidated “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — the market sees this as a revenue‑per‑user and cross‑sell catalyst that can boost engagement and lifetime value. DraftKings Super App
• Positive Sentiment: Analyst support has been strengthening: BMO (reported coverage) expects upside and other firms (Goldman Sachs, Susquehanna) issued buy ratings — analyst upgrades and higher price targets add near‑term buying pressure and validate the new strategy. BMO coverage
• Positive Sentiment: Insider accumulation: a director reportedly bought 100,000 shares — large insider purchases typically signal confidence from insiders and can support the stock. Insider buying story
• Positive Sentiment: Product expansion into prediction markets is getting press and analyst attention — WSJ and Zacks highlight DraftKings’ plans to use its sports‑betting tech to scale prediction markets, a higher‑margin potential growth lane. WSJ prediction markets Zacks prediction markets
• Neutral Sentiment: Investor Day materials and prepared remarks were published — useful for modeling long‑term revenue mix and margins but not an immediate revenue catalyst. Investor Day transcript
• Neutral Sentiment: CEO set ethical boundaries (no bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term top line. CEO ethical stance
• Neutral Sentiment: Short‑interest feeds show a large/odd change that appears to be a reporting artifact (zeroed out) — not a reliable signal as published.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8k) on March 3 (SEC Form 4) — a small insider sale that some investors interpret as a modest negative signal even though the size is limited. SEC Form 4

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.