Cinctive Capital Management LP Takes $1.15 Million Position in DraftKings Inc. $DKNG

Cinctive Capital Management LP purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,663 shares of the company’s stock, valued at approximately $1,147,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its holdings in shares of DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 405 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of DraftKings during the third quarter valued at $33,000. AlphaQuest LLC acquired a new position in DraftKings during the third quarter valued at $41,000. TD Private Client Wealth LLC raised its position in DraftKings by 45.6% during the third quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock valued at $44,000 after buying an additional 365 shares during the period. Finally, Delos Wealth Advisors LLC purchased a new stake in DraftKings in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $26.00 price objective on DraftKings in a research report on Tuesday, February 17th. Canaccord Genuity Group reduced their price target on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Wells Fargo & Company restated an “overweight” rating on shares of DraftKings in a report on Tuesday, March 3rd. Texas Capital raised shares of DraftKings to a “hold” rating in a research report on Thursday, January 8th. Finally, Guggenheim set a $37.00 price objective on shares of DraftKings in a research note on Tuesday, February 17th. Twenty-five equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Bernstein reiterated an “Outperform” rating and nudged its price target higher (from $28 to $30), reinforcing bullish analyst conviction around DraftKings’ expansion prospects and supporting longer‑term upside. Bernstein Remains Bullish on DraftKings
• Positive Sentiment: DraftKings’ strategic relationship with ESPN appears to be deepening and the company is evaluating federal rule changes — developments that could expand distribution and product reach if regulatory shifts are favorable. DraftKings Weighs Federal Rule Shift As ESPN Tie Up Deepens
• Neutral Sentiment: Brokerage consensus remains around a “Moderate Buy,” reflecting steady but not unanimous bullishness from analysts; this keeps expectations tempered rather than amplifying volatility. DraftKings Receives Average Recommendation of “Moderate Buy”
• Neutral Sentiment: Market commentary is focused on whether current pricing fairly reflects DraftKings’ recent volatility and growth outlook — recent short‑term gains contrast with weaker year‑to‑date/one‑year returns, leaving valuation debates unresolved. Is DraftKings Pricing Reflect Its Recent Volatility And Growth Prospects
• Negative Sentiment: UBS trimmed its price target from $53 to $43 while keeping a “buy” rating — a notable downward revision that reduces implied upside and can weigh on sentiment even though the rating stayed positive. UBS Lowers DraftKings Price Target
• Negative Sentiment: Director Jocelyn Moore sold 2,150 shares (disclosed in an SEC filing), reducing her holding by ~60% — an insider sale that investors often read as a negative signal about near‑term insider conviction. Director Jocelyn Moore Sells Shares

DraftKings Stock Performance

Shares of DKNG stock opened at $24.90 on Tuesday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78. The stock’s 50-day moving average is $27.66 and its two-hundred day moving average is $32.99. The firm has a market cap of $12.28 billion, a P/E ratio of -622.50, a PEG ratio of 1.06 and a beta of 1.67.

Insider Buying and Selling at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the sale, the insider owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. The trade was a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Liberman sold 484,417 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the transaction, the insider owned 213,597 shares in the company, valued at $5,374,100.52. This represents a 69.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 549,495 shares of company stock worth $14,166,700 over the last quarter. Insiders own 47.08% of the company’s stock.

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.