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

Vestmark Advisory Solutions Inc. cut its stake in DraftKings Inc. (NASDAQ:DKNG) by 54.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC lifted its holdings in shares of DraftKings by 5.3% during the third quarter. Bleakley Financial Group LLC now owns 29,169 shares of the company’s stock valued at $1,091,000 after acquiring an additional 1,474 shares during the period. Citigroup Inc. increased its position in shares of DraftKings by 40.6% during the 3rd quarter. Citigroup Inc. now owns 1,939,764 shares of the company’s stock worth $72,547,000 after purchasing an additional 560,139 shares in the last quarter. Tredje AP fonden lifted its holdings in DraftKings by 3.1% during the 3rd quarter. Tredje AP fonden now owns 55,287 shares of the company’s stock valued at $2,068,000 after purchasing an additional 1,673 shares during the last quarter. Darden Wealth Group Inc boosted its position in DraftKings by 24.7% in the third quarter. Darden Wealth Group Inc now owns 6,060 shares of the company’s stock valued at $227,000 after buying an additional 1,200 shares in the last quarter. Finally, Cumberland Partners Ltd acquired a new position in DraftKings in the third quarter valued at about $935,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analysts Forecast Growth

DKNG has been the subject of a number of research analyst reports. Benchmark cut their target price on shares of DraftKings from $37.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Needham & Company LLC cut their price objective on DraftKings from $52.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft set a $26.00 target price on DraftKings in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut their price target on DraftKings from $41.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Finally, Wells Fargo & Company set a $30.00 price objective on shares of DraftKings in a report on Monday, February 16th. Twenty-four equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.84.

Insider Buying and Selling

In other DraftKings news, Director Harry Sloan acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the sale, the insider directly owned 500,000 shares of the company’s stock, valued at $16,005,000. This represents a 9.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,822 shares of company stock valued at $3,638,895 over the last ninety days. Insiders own 47.08% of the company’s stock.

DraftKings News Summary

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

DraftKings Price Performance

DraftKings stock opened at $22.37 on Wednesday. The business’s 50-day simple moving average is $30.43 and its 200 day simple moving average is $35.04. 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 stock has a market cap of $11.03 billion, a price-to-earnings ratio of -559.25, a P/E/G ratio of 0.90 and a beta of 1.67. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78.

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.