HighTower Advisors LLC Trims Stake in DraftKings Inc. $DKNG

HighTower Advisors LLC lessened its position in DraftKings Inc. (NASDAQ:DKNG) by 21.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,792 shares of the company’s stock after selling 36,942 shares during the quarter. HighTower Advisors LLC’s holdings in DraftKings were worth $5,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DKNG. Nordea Investment Management AB boosted its stake in DraftKings by 1,996.2% during the third quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock worth $16,205,000 after acquiring an additional 401,037 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of DraftKings by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock valued at $279,494,000 after purchasing an additional 79,152 shares during the last quarter. Helios Capital Management PTE. Ltd. lifted its holdings in shares of DraftKings by 926.0% during the second quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock valued at $4,889,000 after purchasing an additional 102,889 shares during the last quarter. Claro Advisors LLC boosted its position in shares of DraftKings by 121.4% in the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after purchasing an additional 21,890 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of DraftKings by 10.0% in the 2nd quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock worth $58,415,000 after buying an additional 124,200 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were 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 in the company, valued at $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Erik Bradbury sold 7,268 shares of DraftKings stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $22.50, for a total transaction of $163,530.00. Following the completion of the sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at approximately $826,560. This trade represents a 16.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,822 shares of company stock valued at $3,638,895 over the last three months. Insiders own 47.08% of the company’s stock.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Expanded addressable market — DraftKings launched its online sportsbook in Puerto Rico, adding a new regulated market and incremental revenue potential as it grows its footprint. DraftKings Launches Online Sportsbook in Puerto Rico
• Positive Sentiment: Institutional support remains — Jefferies kept a Buy rating on DKNG, saying the recent share decline may be near its end even after trimming its price target, which supports the case for longer-term upside if execution continues. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating
• Positive Sentiment: Longer-term TAM potential flagged by analysts — Commentary from DraftKings’ investor day highlights expanded total‑addressable‑market opportunities (including prediction markets) and analyst interest in FY28 forecasts, suggesting upside if growth targets and product rollouts materialize. DraftKings Investor Day: Analyst Sees TAM Growth Potential
• Neutral Sentiment: Mixed insider activity — Company filings show a director bought a sizable stake while the Chief Accounting Officer sold shares; insiders are expanding into Arkansas and preparing a predictive-event product, which is strategically relevant but mixed in near-term signaling. DraftKings Insider Moves Frame Arkansas Expansion And New Prediction Platform
• Neutral Sentiment: Wall Street ratings are supportive but mixed in usefulness — The stock’s average brokerage recommendation reads as a Buy, but coverage commentary cautions investors that consensus ratings can be overly optimistic and should be weighed against fundamentals. Is It Worth Investing in DraftKings Based on Wall Street’s Bullish Views?
• Negative Sentiment: Cautious 2026 guidance and higher spending weigh on valuation — Management returned to profitability but issued conservative 2026 revenue guidance and signaled increased spending (prediction markets, new market entry), raising near‑term uncertainty around growth and margins and pressuring the share price. A Look At DraftKings Valuation After Cautious 2026 Guidance And Higher Spending Plans
• Negative Sentiment: Analyst target trims and market reaction — Some analysts have cut price targets (e.g., Jefferies trimmed its target), and commentary notes continued downward pressure on the shares as the market reprices DraftKings around slower near‑term growth and heavier investment. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating

DraftKings Price Performance

Shares of NASDAQ:DKNG opened at $21.81 on Tuesday. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of -545.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.67. The business has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $35.18. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78.

Analysts Set New Price Targets

A number of brokerages have issued reports on DKNG. Morgan Stanley lifted their price objective on DraftKings from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut their price objective on shares of DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Needham & Company LLC reduced their price objective on shares of DraftKings from $52.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus decreased their target price 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-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and an average price target 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.