Vestmark Advisory Solutions Inc. Sells 82,893 Shares of DraftKings Inc. $DKNG

Vestmark Advisory Solutions Inc. lessened its position in DraftKings Inc. (NASDAQ:DKNG) by 54.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,447 shares of the company’s stock after selling 82,893 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in DraftKings were worth $2,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DKNG. Vanguard Group Inc. raised its stake in DraftKings by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 43,761,344 shares of the company’s stock worth $1,876,924,000 after buying an additional 670,884 shares during the period. Geode Capital Management LLC increased its holdings in shares of DraftKings by 5.4% in the second quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock worth $385,552,000 after acquiring an additional 458,452 shares in the last quarter. Norges Bank acquired a new stake in shares of DraftKings during the second quarter worth about $362,554,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of DraftKings by 1.1% during the 3rd 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 in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of DraftKings by 52.2% in the 2nd quarter. AQR Capital Management LLC now owns 7,147,665 shares of the company’s stock valued at $306,563,000 after purchasing an additional 2,451,421 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Trading Up 2.6%

Shares of NASDAQ:DKNG opened at $22.37 on Wednesday. The company’s 50-day moving average price is $30.43 and its two-hundred day moving average price is $35.04. 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 one year low of $21.01 and a one year high of $48.78. The stock has a market capitalization of $11.03 billion, a PE ratio of -559.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.67.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings expanded its online sportsbook to Puerto Rico, broadening its addressable market and revenue channels in a new jurisdiction. DraftKings Launches Online Sportsbook in Puerto Rico
• Positive Sentiment: Several bullish write-ups and analyst coverage (bull-case theses) are highlighting DKNG’s long-term growth potential, framing the company more as a diversified digital sports-entertainment platform than a pure sportsbook. This supports upside sentiment among growth investors. DraftKings Inc. (DKNG): A Bull Case Theory
• Neutral Sentiment: Analysts show mixed/conflicting views across consumer cyclical coverage; consensus remains tilted to “Buy” but opinions vary on timing and valuation, so analyst activity is creating both headline-driven interest and volatility. Analysts Have Conflicting Sentiments
• Neutral Sentiment: Analysts watching DraftKings’ Investor Day see TAM expansion opportunities and expect FY28 forecasting updates; that supports medium-term upside but leaves short-term sentiment tied to execution and guidance clarity. DraftKings Investor Day: Analyst Sees TAM Growth Potential
• Negative Sentiment: Management issued cautious 2026 guidance and flagged higher planned spending (prediction markets, new markets like Arkansas), which has raised valuation concerns and is a primary driver of near-term share weakness. A Look At DraftKings (DKNG) Valuation After Cautious 2026 Guidance
• Negative Sentiment: Insider activity is mixed: a company director made a sizable purchase but the Chief Accounting Officer sold shares—mixed signals that can rattle investor confidence when combined with guidance caution. DraftKings Insider Moves Frame Arkansas Expansion
• Negative Sentiment: Some analysts have trimmed price targets (e.g., Jefferies cut its target while keeping a Buy), reflecting uncertainty about growth vs. near-term margins and reinforcing downward pressure on the stock. Jefferies Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating

Analyst Upgrades and Downgrades

Several brokerages have commented on DKNG. Berenberg Bank set a $26.40 target price on shares of DraftKings in a report on Tuesday. Needham & Company LLC dropped their price objective on shares of DraftKings from $52.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Truist Financial reduced their target price on shares of DraftKings from $45.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Barclays lowered their target price on DraftKings from $44.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Finally, Oppenheimer dropped their price target on DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.84.

Insider Activity at DraftKings

In other news, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the completion of the purchase, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Erik Bradbury sold 7,268 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 36,736 shares in the company, valued at approximately $826,560. The trade was a 16.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 112,822 shares of company stock valued at $3,638,895. Insiders own 47.08% of the company’s stock.

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.