DraftKings (NASDAQ:DKNG) CFO Alan Wayne Ellingson Acquires 18,908 Shares of Stock

DraftKings Inc. (NASDAQ:DKNG) CFO Alan Ellingson acquired 18,908 shares of the stock in a transaction dated Monday, November 9th. The shares were bought at an average cost of $18.51 per share, for a total transaction of $349,987.08. Following the acquisition, the chief financial officer owned 214,692 shares in the company, valued at $3,973,948.92. The trade was a 9.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

DraftKings Stock Performance

Shares of DKNG stock traded up $0.19 during trading on Monday, reaching $18.70. The company had a trading volume of 24,411,214 shares, compared to its average volume of 13,832,584. The firm’s 50 day simple moving average is $21.51 and its two-hundred day simple moving average is $24.06. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.02 and a quick ratio of 1.02. DraftKings Inc. has a one year low of $16.55 and a one year high of $36.98. The company has a market capitalization of $9.28 billion, a PE ratio of -23.37, a PEG ratio of 2.43 and a beta of 1.65.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Thursday, November 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.12). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.39 billion. DraftKings had a negative return on equity of 36.21% and a negative net margin of 5.91%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) EPS. Sell-side analysts forecast that DraftKings Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC boosted its position in shares of DraftKings by 336.5% in the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after acquiring an additional 885 shares during the period. Basecamp Wealth Advisors LLC grew its stake in shares of DraftKings by 3,547.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $27,000 after acquiring an additional 1,206 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of DraftKings in the first quarter worth $27,000. Heritage Family Offices LLP bought a new position in DraftKings during the third quarter worth $44,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in DraftKings during the third quarter worth $48,000. 37.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DKNG. BTIG Research reduced their price objective on shares of DraftKings from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley lowered their target price on shares of DraftKings from $36.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Stifel Nicolaus lowered shares of DraftKings from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $21.00 in a research note on Monday. Northland Securities set a $28.00 target price on shares of DraftKings in a report on Monday, August 10th. Finally, Mizuho cut their target price on shares of DraftKings from $45.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.92.

Trending Headlines about DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings’ Texas betting opportunity could offer a longer-term growth catalyst, although the timing and likelihood of expanded betting access remain uncertain. DraftKings Sees Texas Betting Hopes Rise As Prediction Markets Draw Scrutiny
• Neutral Sentiment: Several firms cut their price targets but kept positive ratings, including Canaccord at $30 and TD Cowen at $25. That signals potential upside in analysts’ estimates, while the broad reductions reflect lowered expectations. Canaccord Genuity Group recommendations TD Cowen recommendations
• Negative Sentiment: Q3 revenue grew 16% year over year but missed analyst expectations; the company also reported a larger-than-expected loss and cut its 2026 outlook. Heavy investment in prediction markets, with expected losses in that business, is adding to concerns about near-term profitability and guidance. DKNG Q3 Earnings Call Highlights Predictions Spending and 2027 Outlook
• Negative Sentiment: UBS, Stifel and JPMorgan downgraded DraftKings after the results and outlook update. JPMorgan moved to neutral and cut its target to $21; other analysts also lowered targets, reinforcing concerns about execution and the path to growth. DraftKings hit with downgrades as prediction market losses cloud outlook

DraftKings Company Profile

DraftKings Inc is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming.

The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations.

DraftKings is headquartered in Boston, Massachusetts.