DraftKings Inc. $DKNG Shares Sold by Andra AP fonden

Andra AP fonden cut its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 86.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,497 shares of the company’s stock after selling 40,503 shares during the period. Andra AP fonden’s holdings in DraftKings were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of DraftKings by 1,996.2% during the third quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock valued at $16,205,000 after purchasing an additional 401,037 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in DraftKings by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after purchasing an additional 79,152 shares during the period. Helios Capital Management PTE. Ltd. grew its position in DraftKings by 926.0% in the 2nd quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock valued at $4,889,000 after buying an additional 102,889 shares in the last quarter. Claro Advisors LLC increased its stake in DraftKings by 121.4% during the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock valued at $1,712,000 after buying an additional 21,890 shares during the period. Finally, Swiss National Bank raised its position in shares of DraftKings by 10.0% during 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 in the last quarter. 37.70% of the stock is owned by institutional investors.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Arkansas sportsbook license approved — DraftKings secured licensure from the Arkansas Racing Commission to operate its online sportsbook on behalf of Southland Casino Hotel, opening access to ~2 million additional adults and enabling a pending launch once final approvals clear. DraftKings Secures License in Arkansas
• Positive Sentiment: U.S. footprint expands to 30 states — Coverage/market-access reporting highlights that DraftKings now reaches 30 U.S. states, which supports long-term top-line growth prospects from sportsbook and cross-sell opportunities. DraftKings Is Coming to Arkansas
• Neutral Sentiment: Heightened investor attention — Multiple outlets (Zacks, Yahoo) note increased interest from investors and pageviews, which can amplify intraday moves but is not inherently directional. Zacks: DraftKings Attracting Attention
• Neutral Sentiment: Sector/strategy context — Discussion of prediction-market themes and longer-term reassessment pieces frame DraftKings as part of a larger opportunity set; useful for strategic investors but not an immediate catalyst. Fool: Prediction Market Stocks
• Neutral Sentiment: Short-interest data for February shows inconsistent/zeroed figures in public feeds — the data release looks unreliable and doesn’t provide a clear short-pressure signal today. (No link — internal data)
• Negative Sentiment: Class-action lawsuit advances in Massachusetts — A consumer-protection suit challenging how DraftKings ran and disclosed certain high-profile promotions was allowed to proceed on most claims toward class certification and trial, adding legal and reputational risk that could pressure shares. Yahoo: DraftKings Lawsuit Raises Questions
• Negative Sentiment: Analyst price-target trimmed — BTIG lowered its target from $37 to $35 but kept a buy rating; the cut is mildly negative sentiment-wise even though upside remains. Benzinga: BTIG Lowers Target

DraftKings Stock Performance

DKNG opened at $23.84 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. The firm has a market cap of $11.75 billion, a PE ratio of -596.00, a P/E/G ratio of 0.98 and a beta of 1.67. The business has a fifty day simple moving average of $29.79 and a 200-day simple moving average of $34.62. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78.

Insider Activity at DraftKings

In other news, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the acquisition, the director directly owned 350,219 shares in the company, valued at $7,652,285.15. This represents a 39.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the business’s 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 sale, the insider owned 500,000 shares in the company, valued at $16,005,000. This represents a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 47.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of DraftKings from $53.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Stifel Nicolaus cut their target price on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Berenberg Bank set a $26.40 price target on DraftKings in a research report on Tuesday, February 24th. Mizuho dropped their price objective on DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of DraftKings in a research note on Wednesday, January 7th. Twenty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.76.

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.