Key Points
- DraftKings CAO Erik Bradbury sold 2,883 shares on March 3 at an average price of $24.56 for about $70,806, reducing his stake by 7.02% to 38,168 shares (SEC Form 4); he also sold 7,268 shares on Feb. 19.
- DraftKings shares trade around $24.45 (52‑week range $21.01–$48.78) with a market cap of roughly $12.05B, and the company’s new "DraftKings Sports & Casino" Super App plus analyst upgrades (BMO raised its target to $50) have bolstered sentiment despite the insider sale, giving a consensus target of $37.12 (Moderate Buy).
DraftKings Inc. (NASDAQ:DKNG - Get Free Report) CAO Erik Bradbury sold 2,883 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total transaction of $70,806.48. Following the completion of the transaction, the chief accounting officer directly owned 38,168 shares in the company, valued at $937,406.08. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Erik Bradbury also recently made the following trade(s):
- On Thursday, February 19th, Erik Bradbury sold 7,268 shares of DraftKings stock. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00.
DraftKings Stock Up 2.6%
Shares of NASDAQ DKNG opened at $24.45 on Wednesday. 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 business's 50 day moving average is $29.37 and its two-hundred day moving average is $34.34. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -611.25, a PEG ratio of 0.98 and a beta of 1.67.
Institutional Trading of DraftKings
A number of hedge funds and other institutional investors have recently made changes to their positions in DKNG. Dagco Inc. acquired a new stake in shares of DraftKings in the 4th quarter valued at about $26,000. Ameriflex Group Inc. boosted its holdings in shares of DraftKings by 100.0% in the third quarter. Ameriflex Group Inc. now owns 810 shares of the company's stock valued at $30,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC acquired a new stake in shares of DraftKings in the third quarter valued at approximately $33,000. Asset Dedication LLC purchased a new position in shares of DraftKings during the third quarter worth approximately $37,000. Finally, Montag A & Associates Inc. grew its position in shares of DraftKings by 82.5% during the fourth quarter. Montag A & Associates Inc. now owns 1,106 shares of the company's stock worth $38,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 37.70% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on DKNG shares. The Goldman Sachs Group reduced their target price on shares of DraftKings from $54.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. BMO Capital Markets increased their price objective on DraftKings from $42.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday. Wells Fargo & Company reissued an "overweight" rating on shares of DraftKings in a research note on Tuesday. Guggenheim set a $37.00 price target on DraftKings in a research report on Tuesday, February 17th. Finally, Morgan Stanley decreased their price objective on DraftKings from $53.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, February 24th. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.12.
Check Out Our Latest Stock Analysis on DKNG
Key Stories Impacting DraftKings
Here are the key news stories impacting DraftKings this week:
- Positive Sentiment: DraftKings unveiled a “DraftKings Sports & Casino” Super App to combine sportsbook, predictions, casino and lottery into one account/wallet — a product move the market views as boosting engagement, cross‑sell and lifetime value. DraftKings (DKNG) Is Up 9.2% After Unveiling Integrated Super App Vision
- Positive Sentiment: Analyst upgrades lifted sentiment: BMO raised its price target to $50 (outperform) and Citizens JMP reaffirmed market outperform with a $38 target — analysts are pricing in materially higher upside tied to the new strategy. Benzinga coverage of analyst moves
- Positive Sentiment: WSJ profile details DraftKings’ plan to leverage its sports‑betting technology and product playbook to scale prediction markets and compete with incumbent Kalshi — signals management has a concrete go‑to‑market plan for the new business line. WSJ: DraftKings Is Using Its Sports‑Betting Playbook
- Neutral Sentiment: Investor Day materials (prepared remarks and slideshow) were published — useful for modeling revenue mix, margin targets and product rollout cadence but not a near‑term catalyst on their own. Seeking Alpha transcript
- Neutral Sentiment: CEO publicly set ethical boundaries (won’t offer bets on geopolitical death/war) — reputationally positive but unlikely to move near‑term revenues. 247WallSt: CEO ethical line
- Neutral Sentiment: Short‑interest data shown in feeds is inconsistent/zeroed out (likely a reporting artifact) — not meaningful as presented. (No external link provided in the feed.)
- Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares for ~$70.8k (filed on SEC Form 4) — a relatively small insider sale but some investors interpret insider stock sales as a modest near‑term negative signal. SEC Form 4
About DraftKings
(
Get Free Report)
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.
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