Neuberger Berman Group LLC Has $124.56 Million Stake in DraftKings Inc. $DKNG

Neuberger Berman Group LLC lowered its holdings in DraftKings Inc. (NASDAQ:DKNG) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,330,359 shares of the company’s stock after selling 353,491 shares during the period. Neuberger Berman Group LLC owned about 0.67% of DraftKings worth $124,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DKNG. Norges Bank bought a new stake in DraftKings during the 2nd quarter worth about $362,554,000. Brown Advisory Inc. grew its holdings in shares of DraftKings by 53,272.1% in the 2nd quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock valued at $173,974,000 after acquiring an additional 4,048,680 shares in the last quarter. AQR Capital Management LLC grew its holdings 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 acquiring an additional 2,451,421 shares in the last quarter. Columbus Hill Capital Management L.P. increased its position in shares of DraftKings by 1,379.5% in the second quarter. Columbus Hill Capital Management L.P. now owns 1,183,580 shares of the company’s stock valued at $50,764,000 after acquiring an additional 1,103,580 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of DraftKings by 33.9% in the second quarter. Bamco Inc. NY now owns 3,670,460 shares of the company’s stock valued at $157,426,000 after acquiring an additional 929,997 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DKNG has been the subject of several recent research reports. Zacks Research cut DraftKings from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. UBS Group reaffirmed a “buy” rating on shares of DraftKings in a research report on Wednesday, January 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $30.00 price objective on shares of DraftKings in a report on Thursday. BTIG Research set a $35.00 target price on shares of DraftKings in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DraftKings presently has an average rating of “Moderate Buy” and an average target price of $37.19.

DraftKings Price Performance

Shares of DraftKings stock opened at $25.11 on Friday. DraftKings Inc. has a twelve month low of $21.01 and a twelve month high of $48.78. 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 company has a 50-day simple moving average of $28.82 and a two-hundred day simple moving average of $34.07. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of -627.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: ESPN/Disney integration and account-linking ahead of March Madness should drive engagement and conversion between ESPN audiences and DraftKings’ Sportsbook, plus a new “Bet Your Bracket” feature adds event-driven monetization potential. DraftKings and Disney strike a key integration deal ahead of March Madness
• Positive Sentiment: BusinessWire/ESPN details show account linking will personalize experiences and unlock exclusive features, which can boost ARPU and customer retention during a high-activity period for sports betting. DraftKings and ESPN Detail Plans to Provide Account Linking for Customers
• Positive Sentiment: The rollout of a unified “Super App” (Sportsbook, Casino, Predictions, Lottery) and expansion into prediction markets create new cross-sell and monetization paths that analysts see as a growth catalyst. DraftKings Super App And Prediction Push Test Ethics And Legal Risks
• Positive Sentiment: Multiple brokerage upgrades and coverage notes (Goldman Sachs, Susquehanna, BMO, Citizens JMP) and recent insider buying signal analyst confidence and insider conviction, which can support buy-side interest. DraftKings (DKNG) Receives a Buy from Goldman Sachs
• Neutral Sentiment: Short-interest data reported this cycle is inconsistent/unclear; current figures don’t provide a clear near-term squeeze or pressure signal. (No clear actionable short-covering dynamic at present.)
• Negative Sentiment: Media and legal pieces flag ethics and regulatory risk from the Super App and prediction-market push, plus class-action scrutiny over past promotional marketing — these could produce regulatory headaches, compliance costs or reputational damage. DraftKings Super App And Prediction Push Test Ethics And Legal Risks

Insiders Place Their Bets

In related news, Director Harry Sloan purchased 100,000 shares of the business’s stock in a transaction that occurred 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 purchase, the director owned 350,219 shares in the company, valued at approximately $7,652,285.15. This represents a 39.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erik Bradbury sold 7,268 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $22.50, for a total value of $163,530.00. Following the sale, the chief accounting officer directly owned 36,736 shares in the company, valued at $826,560. This represents a 16.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,928 shares of company stock worth $1,923,728 in the last quarter. Corporate insiders own 51.19% 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.