DraftKings (NASDAQ:DKNG) CAO Erik Bradbury Sells 2,883 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) CAO Erik Bradbury sold 2,883 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total value of $70,806.48. Following the completion of the transaction, the chief accounting officer directly owned 38,168 shares of the company’s stock, valued at approximately $937,406.08. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Erik Bradbury also recently made the following trade(s):

• On Thursday, February 19th, Erik Bradbury sold 7,268 shares of DraftKings stock. The stock was sold at an average price of $22.50, for a total value of $163,530.00.

DraftKings Stock Up 2.6%

Shares of DKNG stock opened at $24.45 on Wednesday. DraftKings Inc. has a twelve month low of $21.01 and a twelve month high of $48.78. The stock has a market cap of $12.05 billion, a P/E ratio of -611.25, a P/E/G ratio of 0.98 and a beta of 1.67. The stock has a 50 day moving average of $29.37 and a 200 day moving average of $34.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Viking Global Investors LP acquired a new position in DraftKings in the 3rd quarter valued at about $561,125,000. Capital World Investors raised its position in shares of DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock valued at $641,867,000 after buying an additional 12,008,357 shares during the period. Janus Henderson Group PLC lifted its holdings in DraftKings by 50.8% in the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock valued at $858,893,000 after acquiring an additional 8,524,923 shares during the last quarter. Norges Bank purchased a new position in DraftKings in the second quarter worth approximately $362,554,000. Finally, AQR Capital Management LLC increased its stake in DraftKings by 41.0% during the fourth quarter. AQR Capital Management LLC now owns 16,474,009 shares of the company’s stock worth $567,694,000 after acquiring an additional 4,788,337 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company’s stock.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings unveiled a “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — a product move the market views as boosting engagement, cross‑sell and lifetime value. DraftKings (DKNG) Is Up 9.2% After Unveiling Integrated Super App Vision
• Positive Sentiment: Analyst upgrades lifted sentiment: BMO raised its price target to $50 (outperform) and Citizens JMP reaffirmed market outperform with a $38 target — analysts are pricing in materially higher upside tied to the new strategy. Benzinga coverage of analyst moves
• Positive Sentiment: WSJ profile details DraftKings’ plan to leverage its sports‑betting technology and product playbook to scale prediction markets and compete with incumbent Kalshi — signals management has a concrete go‑to‑market plan for the new business line. WSJ: DraftKings Is Using Its Sports‑Betting Playbook
• Neutral Sentiment: Investor Day materials (prepared remarks and slideshow) were published — useful for modeling revenue mix, margin targets and product rollout cadence but not a near‑term catalyst on their own. Seeking Alpha transcript
• Neutral Sentiment: CEO publicly set ethical boundaries (won’t offer bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term revenues. 247WallSt: CEO ethical line
• Neutral Sentiment: Short‑interest data shown in feeds is inconsistent/zeroed out (likely a reporting artifact) — not meaningful as presented. (No external link provided in the feed.)
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares for ~$70.8k (filed on SEC Form 4) — a relatively small insider sale but some investors interpret insider stock sales as a modest near‑term negative signal. SEC Form 4

Analyst Ratings Changes

A number of research firms have recently commented on DKNG. Canaccord Genuity Group dropped their target price on DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Mizuho cut their price target on shares of DraftKings from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. BTIG Research set a $35.00 price objective on shares of DraftKings in a research report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of DraftKings in a research report on Tuesday, February 24th. Finally, Texas Capital upgraded shares of DraftKings to a “hold” rating in a research report on Thursday, January 8th. Twenty-five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.12.

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.