DraftKings (NASDAQ:DKNG) Sets New 1-Year Low – Here’s What Happened

DraftKings Inc. (NASDAQ:DKNG)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.89 and last traded at $21.42, with a volume of 1094126 shares trading hands. The stock had previously closed at $21.42.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: ESPN account-linking could boost customer acquisition and cross-sales between Disney/ESPN audiences and DraftKings’ Sportsbook, supporting longer-term growth thesis. How Will DraftKings (DKNG) Benefit From ESPN Account Linking
• Neutral Sentiment: Wall Street coverage remains generally favorable — multiple buy/outperform ratings and a median price target near $40 provide upside narratives investors may consider versus current levels. Analyst Ratings & Coverage
• Neutral Sentiment: Several retail-facing pieces (how-to-buy and trending-stock writeups) increase visibility and could attract new retail interest, but they are unlikely to move the stock materially without fundamental catalysts. How to Buy DraftKings Stock (DKNG) in 2026
• Negative Sentiment: Senate bill and broader legislative moves to curb betting/prediction markets have triggered steep sell pressure as investors price in potential limits on products and revenue. DraftKings (DKNG) Stock Plunges 10% Amid Senate Bill and NCAA Legal Battle
• Negative Sentiment: The NCAA filed a trademark complaint seeking emergency relief over tournament-related terms, creating marketing/promotional disruption risk during peak betting season and adding legal overhang. NCAA Trademark Lawsuit Adds Overhang
• Neutral Sentiment: Short-interest reports in the feed appear inconsistent/erroneous (zeros/NaNs) and shouldn’t be relied on; still, increased headline-driven volatility can attract short-term traders. DraftKings Trending Stock Facts

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group cut their price target on DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Bank of America lowered their price objective on DraftKings from $37.50 to $30.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $26.00 target price on DraftKings in a research note on Tuesday, February 17th. Zacks Research lowered DraftKings from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Texas Capital upgraded DraftKings to a “hold” rating in a report on Thursday, January 8th. Twenty-five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.09.

DraftKings Stock Performance

The stock has a market cap of $10.37 billion, a PE ratio of -526.15, a P/E/G ratio of 0.93 and a beta of 1.67. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day simple moving average of $26.13 and a 200-day simple moving average of $31.93.

Insider Activity

In related news, CAO Erik Bradbury sold 2,883 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total value of $70,806.48. Following the transaction, the chief accounting officer owned 38,168 shares in the company, valued at approximately $937,406.08. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry Sloan purchased 100,000 shares of DraftKings stock in a transaction 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 transaction, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 549,495 shares of company stock worth $14,166,700. Insiders own 51.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Viking Global Investors LP purchased a new stake in shares of DraftKings in the third quarter worth about $561,125,000. Capital World Investors raised its holdings 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 position in DraftKings by 50.8% during the 4th quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after acquiring an additional 8,524,923 shares in the last quarter. Norges Bank acquired a new position in DraftKings during the 2nd quarter worth approximately $362,554,000. Finally, AQR Capital Management LLC boosted its holdings in DraftKings by 41.0% in the 4th 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 period. 37.70% of the stock is owned by hedge funds and other institutional investors.

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.