120,101 Shares in DraftKings Inc. $DKNG Acquired by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC purchased a new position in DraftKings Inc. (NASDAQ:DKNG) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 120,101 shares of the company’s stock, valued at approximately $4,492,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of DraftKings in the 2nd quarter worth $362,554,000. Brown Advisory Inc. boosted its position 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 purchasing an additional 4,048,680 shares during the period. AQR Capital Management LLC boosted its position 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 purchasing an additional 2,451,421 shares during the period. Columbus Hill Capital Management L.P. increased its stake in DraftKings by 1,379.5% in the 2nd quarter. Columbus Hill Capital Management L.P. now owns 1,183,580 shares of the company’s stock worth $50,764,000 after purchasing an additional 1,103,580 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in DraftKings by 33.9% during the 2nd quarter. Bamco Inc. NY now owns 3,670,460 shares of the company’s stock worth $157,426,000 after buying an additional 929,997 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Insider Activity at DraftKings

In related news, insider R Stanton Dodge sold 52,777 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erik Bradbury sold 7,268 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $22.50, for a total transaction of $163,530.00. Following the completion of the sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at $826,560. This represents a 16.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 112,822 shares of company stock valued at $3,638,895. 51.19% of the stock is owned by corporate insiders.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Arkansas sportsbook license approved — DraftKings secured licensure from the Arkansas Racing Commission to operate its online sportsbook on behalf of Southland Casino Hotel, opening access to ~2 million additional adults and enabling a pending launch once final approvals clear. DraftKings Secures License in Arkansas
• Positive Sentiment: U.S. footprint expands to 30 states — Coverage/market-access reporting highlights that DraftKings now reaches 30 U.S. states, which supports long-term top-line growth prospects from sportsbook and cross-sell opportunities. DraftKings Is Coming to Arkansas
• Neutral Sentiment: Heightened investor attention — Multiple outlets (Zacks, Yahoo) note increased interest from investors and pageviews, which can amplify intraday moves but is not inherently directional. Zacks: DraftKings Attracting Attention
• Neutral Sentiment: Sector/strategy context — Discussion of prediction-market themes and longer-term reassessment pieces frame DraftKings as part of a larger opportunity set; useful for strategic investors but not an immediate catalyst. Fool: Prediction Market Stocks
• Neutral Sentiment: Short-interest data for February shows inconsistent/zeroed figures in public feeds — the data release looks unreliable and doesn’t provide a clear short-pressure signal today. (No link — internal data)
• Negative Sentiment: Class-action lawsuit advances in Massachusetts — A consumer-protection suit challenging how DraftKings ran and disclosed certain high-profile promotions was allowed to proceed on most claims toward class certification and trial, adding legal and reputational risk that could pressure shares. Yahoo: DraftKings Lawsuit Raises Questions
• Negative Sentiment: Analyst price-target trimmed — BTIG lowered its target from $37 to $35 but kept a buy rating; the cut is mildly negative sentiment-wise even though upside remains. Benzinga: BTIG Lowers Target

Wall Street Analyst Weigh In

Several research analysts have commented on DKNG shares. Oppenheimer decreased their target price on shares of DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Berenberg Bank set a $26.40 price target on shares of DraftKings in a research report on Tuesday. Susquehanna set a $33.00 price objective on shares of DraftKings in a research report on Tuesday, February 17th. UBS Group reissued a “buy” rating on shares of DraftKings in a research note on Wednesday, January 7th. Finally, Stifel Nicolaus decreased their target price on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, DraftKings presently has an average rating of “Moderate Buy” and a consensus price target of $36.76.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $23.84 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78. The business’s 50-day moving average price is $29.79 and its two-hundred day moving average price is $34.68. The company has a market capitalization of $11.75 billion, a P/E ratio of -596.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.67.

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.