Vanguard Group Inc. Cuts Stake in DraftKings Inc. $DKNG

Vanguard Group Inc. cut its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,403,747 shares of the company’s stock after selling 357,597 shares during the quarter. Vanguard Group Inc. owned 8.74% of DraftKings worth $1,623,300,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DKNG. Root Financial Partners LLC bought a new position in shares of DraftKings during the 3rd quarter valued at $33,000. AlphaQuest LLC purchased a new stake in DraftKings during the third quarter valued at about $41,000. TD Private Client Wealth LLC boosted 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. Atlantic Union Bankshares Corp bought a new position in shares of DraftKings during the second quarter valued at about $45,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of DraftKings in the second quarter worth about $47,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings Stock Performance

Shares of DKNG stock opened at $22.31 on Friday. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of -557.75, a PEG ratio of 0.92 and a beta of 1.67. The stock has a fifty day moving average of $30.95 and a 200 day moving average of $35.48. DraftKings Inc. has a 52 week low of $21.01 and a 52 week high of $49.59. The company has a quick ratio of 1.09, a current ratio of 1.03 and a debt-to-equity ratio of 2.91.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DKNG shares. Deutsche Bank Aktiengesellschaft set a $26.00 target price on DraftKings in a report on Tuesday. Wells Fargo & Company set a $30.00 price objective on DraftKings in a research report on Monday. BMO Capital Markets restated an “outperform” rating and issued a $42.00 target price on shares of DraftKings in a report on Friday, February 13th. Benchmark decreased their target price on shares of DraftKings from $37.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Stifel Nicolaus lowered their price target on shares of DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. Twenty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.89.

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

Insider Activity at DraftKings

In related news, Director Harry Sloan acquired 100,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired 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 of the company’s stock, valued at approximately $7,652,285.15. This represents a 39.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the company’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 transaction, the insider owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,822 shares of company stock worth $3,638,895 over the last 90 days. 51.19% of the stock is owned by company insiders.

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.