Insider Selling: DraftKings (NASDAQ:DKNG) CAO Sells $70,806.48 in Stock

DraftKings Inc. (NASDAQ:DKNG) CAO Erik Bradbury sold 2,883 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $24.56, for a total value of $70,806.48. Following the transaction, the chief accounting officer directly owned 38,168 shares in the company, valued at $937,406.08. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 value of $163,530.00.

DraftKings Price Performance

Shares of DKNG opened at $25.46 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. The company’s fifty day simple moving average is $29.01 and its 200 day simple moving average is $34.21. DraftKings Inc. has a 1-year low of $21.01 and a 1-year high of $48.78. The company has a market cap of $12.55 billion, a price-to-earnings ratio of -636.50, a PEG ratio of 1.05 and a beta of 1.67.

Wall Street Analyst Weigh In

A number of research firms recently commented on DKNG. The Goldman Sachs Group reduced their price target on DraftKings from $54.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of DraftKings in a research report on Thursday. Truist Financial decreased their target price on DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Macquarie Infrastructure cut their price target on DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Finally, Susquehanna set a $33.00 price objective on shares of DraftKings in a research report on Tuesday, February 17th. Twenty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.19.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dagco Inc. acquired a new stake in shares of DraftKings in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. lifted its stake in DraftKings by 100.0% in the 3rd 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 in the 3rd quarter valued at approximately $33,000. Asset Dedication LLC acquired a new stake in DraftKings in the third quarter valued at approximately $37,000. Finally, Montag A & Associates Inc. grew its stake 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 buying an additional 500 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

Key DraftKings News

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 Company 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.