30,663 Shares in DraftKings Inc. $DKNG Bought by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new position in shares of DraftKings Inc. (NASDAQ:DKNG) during the 3rd quarter, Holdings Channel.com reports. The firm bought 30,663 shares of the company’s stock, valued at approximately $1,147,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of DraftKings by 1.6% in the second 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 last quarter. Viking Global Investors LP acquired a new position in shares of DraftKings during the 3rd quarter valued at about $561,125,000. AQR Capital Management LLC raised its stake in shares of DraftKings by 63.5% in the 3rd quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after acquiring an additional 4,538,007 shares in the last quarter. Norges Bank bought a new position in shares of DraftKings in the 2nd quarter valued at approximately $362,554,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after purchasing an additional 79,152 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Bernstein reiterated an “Outperform” rating and nudged its price target higher (from $28 to $30), reinforcing bullish analyst conviction around DraftKings’ expansion prospects and supporting longer‑term upside. Bernstein Remains Bullish on DraftKings
• Positive Sentiment: DraftKings’ strategic relationship with ESPN appears to be deepening and the company is evaluating federal rule changes — developments that could expand distribution and product reach if regulatory shifts are favorable. DraftKings Weighs Federal Rule Shift As ESPN Tie Up Deepens
• Neutral Sentiment: Brokerage consensus remains around a “Moderate Buy,” reflecting steady but not unanimous bullishness from analysts; this keeps expectations tempered rather than amplifying volatility. DraftKings Receives Average Recommendation of “Moderate Buy”
• Neutral Sentiment: Market commentary is focused on whether current pricing fairly reflects DraftKings’ recent volatility and growth outlook — recent short‑term gains contrast with weaker year‑to‑date/one‑year returns, leaving valuation debates unresolved. Is DraftKings Pricing Reflect Its Recent Volatility And Growth Prospects
• Negative Sentiment: UBS trimmed its price target from $53 to $43 while keeping a “buy” rating — a notable downward revision that reduces implied upside and can weigh on sentiment even though the rating stayed positive. UBS Lowers DraftKings Price Target
• Negative Sentiment: Director Jocelyn Moore sold 2,150 shares (disclosed in an SEC filing), reducing her holding by ~60% — an insider sale that investors often read as a negative signal about near‑term insider conviction. Director Jocelyn Moore Sells Shares

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DKNG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of DraftKings in a research report on Tuesday, March 3rd. Zacks Research lowered shares of DraftKings from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Citigroup restated a “market outperform” rating on shares of DraftKings in a research note on Tuesday, February 24th. Guggenheim set a $37.00 price objective on shares of DraftKings in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Twenty-five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.09.

DraftKings Stock Performance

DKNG opened at $24.90 on Tuesday. 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’s 50 day moving average price is $27.66 and its two-hundred day moving average price is $32.99. The firm has a market capitalization of $12.28 billion, a P/E ratio of -622.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78.

Insider Buying and Selling

In related news, Director Harry Sloan bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the purchase, the director directly owned 350,219 shares in the company, valued at $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider owned 500,000 shares of the company’s stock, valued at approximately $16,005,000. The trade was a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 549,495 shares of company stock valued at $14,166,700 in the last ninety days. Company insiders own 47.08% of the company’s stock.

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.