DraftKings Inc. $DKNG Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in DraftKings Inc. (NASDAQ:DKNG) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 51,753 shares of the company’s stock after selling 19,653 shares during the period. Pitcairn Co.’s holdings in DraftKings were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DKNG. Norges Bank purchased a new stake in DraftKings during the 2nd quarter valued at about $362,554,000. Brown Advisory Inc. lifted its holdings in shares of DraftKings by 53,272.1% during the second quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock worth $173,974,000 after purchasing an additional 4,048,680 shares during the period. AQR Capital Management LLC boosted its position in DraftKings by 52.2% in the second quarter. AQR Capital Management LLC now owns 7,147,665 shares of the company’s stock valued at $306,563,000 after buying an additional 2,451,421 shares during the last quarter. Columbus Hill Capital Management L.P. increased its holdings 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 buying an additional 1,103,580 shares during the period. Finally, Bamco Inc. NY increased its holdings in DraftKings by 33.9% in 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.

DraftKings Trading Up 0.1%

DKNG stock opened at $25.46 on Friday. DraftKings Inc. has a 52-week low of $21.01 and a 52-week 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 firm has a market cap of $12.55 billion, a P/E ratio of -636.50, a PEG ratio of 1.05 and a beta of 1.67. The company’s 50-day simple moving average is $29.01 and its 200-day simple moving average is $34.21.

Analyst Ratings Changes

DKNG has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of DraftKings in a report on Thursday. Citigroup restated a “market outperform” rating on shares of DraftKings in a research report on Tuesday, February 24th. Truist Financial cut their price target on DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Rothschild & Co Redburn set a $35.00 price objective on DraftKings in a research note on Friday, January 30th. Finally, Barclays restated an “overweight” rating on shares of DraftKings in a research note on Tuesday. Twenty-five research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $37.19.

Insiders Place Their Bets

In other news, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the completion of the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $16,005,000. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Erik Bradbury sold 7,268 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $22.50, for a total value of $163,530.00. Following the transaction, the chief accounting officer owned 36,736 shares in the company, valued at $826,560. This trade represents a 16.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 62,928 shares of company stock worth $1,923,728. 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: Company unveiled a consolidated “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — the market sees this as a revenue‑per‑user and cross‑sell catalyst that can boost engagement and lifetime value. DraftKings Super App
• Positive Sentiment: Analyst support has been strengthening: BMO (reported coverage) expects upside and other firms (Goldman Sachs, Susquehanna) issued buy ratings — analyst upgrades and higher price targets add near‑term buying pressure and validate the new strategy. BMO coverage
• Positive Sentiment: Insider accumulation: a director reportedly bought 100,000 shares — large insider purchases typically signal confidence from insiders and can support the stock. Insider buying story
• Positive Sentiment: Product expansion into prediction markets is getting press and analyst attention — WSJ and Zacks highlight DraftKings’ plans to use its sports‑betting tech to scale prediction markets, a higher‑margin potential growth lane. WSJ prediction markets Zacks prediction markets
• Neutral Sentiment: Investor Day materials and prepared remarks were published — useful for modeling long‑term revenue mix and margins but not an immediate revenue catalyst. Investor Day transcript
• Neutral Sentiment: CEO set ethical boundaries (no bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term top line. CEO ethical stance
• Neutral Sentiment: Short‑interest feeds show a large/odd change that appears to be a reporting artifact (zeroed out) — not a reliable signal as published.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8k) on March 3 (SEC Form 4) — a small insider sale that some investors interpret as a modest negative signal even though the size is limited. SEC Form 4

DraftKings 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.