Insider Buying: DraftKings (NASDAQ:DKNG) Director Buys $2,185,000.00 in Stock

DraftKings Inc. (NASDAQ:DKNG) Director Harry Sloan bought 100,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director directly owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

DraftKings Trading Down 0.8%

Shares of DKNG opened at $22.31 on Friday. The business’s 50-day moving average price is $30.95 and its 200 day moving average price is $35.48. The company has a current ratio of 1.03, a quick ratio of 1.09 and a debt-to-equity ratio of 2.91. The stock has a market capitalization of $11.00 billion, a P/E ratio of -557.75, a P/E/G ratio of 0.92 and a beta of 1.67. DraftKings Inc. has a 1-year low of $21.01 and a 1-year high of $49.59.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Director Harry Sloan bought 100,000 shares (~$2.185M), increasing his stake ~40% — a strong insider signal that can bolster investor confidence. Harry Sloan SEC filing
• Positive Sentiment: Barclays published a buy rating on DraftKings, providing institutional validation that likely helped limit the selloff. Barclays buy note
• Neutral Sentiment: Regulatory/market expansion note — FanDuel and DraftKings are exploring a launch in Arkansas; potential new-state entry is positive for long-term growth but timing and economics remain uncertain. Arkansas launch coverage
• Neutral Sentiment: Short-interest posts in recent feeds show zero/invalid values (data glitch), so short-interest signals aren’t currently informative for today’s move. (Reported days-to-cover = 0.0.)
• Negative Sentiment: Multiple major brokers trimmed price targets (Needham, Oppenheimer, JPMorgan, Citi, Truist, Mizuho and others), with Needham cutting its PT to $35 after a Q4 earnings miss and weaker FY26 revenue guidance — this raises near-term downside pressure. Needham PT cut
• Negative Sentiment: Zacks added DKNG to its Rank #5 (Strong Sell) list, a headline that can trigger short-term selling from momentum and quant funds. Zacks strong sell list
• Negative Sentiment: Insider selling by CAO Erik Bradbury (7,268 shares) was disclosed; while small versus the Sloan buy, insider sales can be interpreted as mixed insider signals and add to bearish headlines. Bradbury SEC filing

Hedge Funds Weigh In On DraftKings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its stake in shares of DraftKings by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after purchasing an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of DraftKings by 1,141.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock valued at $1,463,000 after buying an additional 40,495 shares during the period. Empowered Funds LLC increased its stake in DraftKings by 18.0% during the first quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after acquiring an additional 1,391 shares during the period. Sivia Capital Partners LLC bought a new position in DraftKings during the second quarter valued at about $603,000. Finally, Yousif Capital Management LLC acquired a new position in DraftKings in the 2nd quarter valued at approximately $253,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DKNG. Oppenheimer dropped their price target on DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday. Susquehanna set a $33.00 price target on DraftKings in a research note on Tuesday. Citigroup reduced their price target on DraftKings from $48.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group dropped their price objective on DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company set a $30.00 price objective on shares of DraftKings in a research report on Monday. Twenty-four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

About DraftKings

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.