Capital World Investors Raises Stake in DraftKings Inc. $DKNG

Capital World Investors boosted its stake in DraftKings Inc. (NASDAQ:DKNG) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,618,072 shares of the company’s stock after acquiring an additional 138,891 shares during the period. Capital World Investors’ holdings in DraftKings were worth $247,516,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Ameriflex Group Inc. lifted its stake in 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 purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new position in DraftKings during the third quarter valued at $33,000. AlphaQuest LLC purchased a new stake in DraftKings in the third quarter worth $41,000. TD Private Client Wealth LLC increased its position in DraftKings by 45.6% in the third quarter. TD Private Client Wealth LLC now owns 1,165 shares of the company’s stock worth $44,000 after buying an additional 365 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of DraftKings in the second quarter valued at $45,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Buying and Selling

In other news, CAO Erik Bradbury sold 7,268 shares of DraftKings stock in a transaction dated 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 owned 36,736 shares in the company, valued at approximately $826,560. This trade represents a 16.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry Sloan acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the acquisition, the director directly owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 62,928 shares of company stock worth $1,923,728 over the last ninety days. 51.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DKNG has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of DraftKings in a research report on Wednesday, January 7th. Guggenheim set a $37.00 price objective on DraftKings in a research note on Tuesday, February 17th. Mizuho dropped their price objective on shares of DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Susquehanna set a $33.00 target price on shares of DraftKings in a research report on Tuesday, February 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $38.00 target price on shares of DraftKings in a research note on Tuesday, March 3rd. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $37.19.

DraftKings Trading Up 1.7%

DraftKings stock opened at $25.57 on Thursday. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. DraftKings Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $48.78. The stock has a market cap of $12.61 billion, a P/E ratio of -639.25, a PEG ratio of 1.03 and a beta of 1.67. The firm’s fifty day moving average price is $28.26 and its 200-day moving average price is $33.55.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings is rolling out a prediction‑markets product (“DraftKings Predictions”) with integrations across ESPN and NBCUniversal, which could broaden engagement and add a new revenue stream that leverages its sportsbook customer base. This product push is a clear strategic catalyst for growth.
• Positive Sentiment: DraftKings launched a unified “super app” that combines betting and content; media coverage says the app is creating buzz and could increase customer engagement and cross‑sell. Read More.
• Positive Sentiment: Short interest has come down from mid‑February levels (reported ~32.1M shares after a ~16.9% drop), reducing some short‑pressure risk and lowering the potential for future squeezes to drive volatility.
• Neutral Sentiment: Brokerage/analyst attention is elevated: multiple writeups note brokers view DKNG as a buy on average, and several stories are re‑examining valuation after mixed short‑term performance — this keeps DraftKings in investors’ screens but may produce mixed trading reactions. Read More.
• Neutral Sentiment: Coverage and search interest spikes (Zacks/MarketBeat summaries) increase visibility; that can amplify both inflows and volatility without guaranteeing direction. Read More.
• Negative Sentiment: Headwinds remain: DKNG is still well below its 50‑ and 200‑day moving averages and is down materially year‑to‑date, valuation metrics remain stretched for a cash‑burning company (negative PE, elevated debt/equity), so upside depends on execution and sustained margin improvement.

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.