DraftKings Inc. $DKNG Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its holdings in DraftKings Inc. (NASDAQ:DKNG) by 208.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,300,308 shares of the company’s stock after buying an additional 879,181 shares during the period. Nordea Investment Management AB owned 0.26% of DraftKings worth $45,329,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in shares of DraftKings by 5.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after acquiring an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DraftKings by 1,141.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,044 shares of the company’s stock worth $1,463,000 after purchasing an additional 40,495 shares in the last quarter. Empowered Funds LLC lifted its position in DraftKings by 18.0% in the first quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after purchasing an additional 1,391 shares during the period. Sivia Capital Partners LLC acquired a new stake in DraftKings in the second quarter valued at about $603,000. Finally, Prudential PLC purchased a new stake in DraftKings in the 2nd quarter valued at approximately $600,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Wall Street Analyst Weigh In

DKNG has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $46.00 price objective on DraftKings in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft set a $26.00 target price on DraftKings in a report on Tuesday, February 17th. Canaccord Genuity Group decreased their target price on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Oppenheimer lowered their price target on shares of DraftKings from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Barclays reiterated an “overweight” rating on shares of DraftKings in a report on Tuesday, March 3rd. Twenty-five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.09.

DraftKings Stock Up 1.4%

Shares of NASDAQ:DKNG opened at $24.00 on Tuesday. The company has a market capitalization of $11.83 billion, a P/E ratio of -599.88, a P/E/G ratio of 0.95 and a beta of 1.67. 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 stock’s fifty day simple moving average is $26.61 and its 200-day simple moving average is $32.17. DraftKings Inc. has a 52-week low of $21.01 and a 52-week high of $48.78.

More DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: The introduction of a bipartisan Senate bill to ban sports wagers on prediction-market platforms is the primary catalyst lifting DraftKings: investors view the measure as removing an unregulated, low-cost competitor and creating a regulatory moat for licensed sportsbooks. This legislative news prompted heavy buying and call-option activity. DraftKings, Flutter shares surge as bill targets prediction market sports bets
• Positive Sentiment: Analyst support: BTIG reiterated a “buy” rating with a $35 price target, reinforcing upside expectations tied to improved competitive dynamics and longer-term margin recovery. BTIG reaffirms buy
• Neutral Sentiment: Investor reaction & technicals: The rally is accompanied by above-average volume and options skew toward calls, signaling short-term bullish positioning; technical levels (short-term moving averages) are being watched for follow-through. MarketBeat DKNG page
• Neutral Sentiment: Competition & regulatory focus: Independent reporting highlights continued pressure from prediction-market platforms (Kalshi, Polymarket) that prompted the new legislation — long-term competitive dynamics still matter for customer acquisition costs and margins. DraftKings faces growing pressure as prediction markets reshape betting outlook
• Neutral Sentiment: Analyst downgrade note: Argus recently downgraded DraftKings to Hold citing rising customer-acquisition costs and competitive pressure — a reminder that fundamentals still need to improve to justify valuations. InsiderMonkey on Argus downgrade
• Neutral Sentiment: Short-interest data in feeds looks inconsistent (reported as zero) and should not be relied on for positioning until clarified by official filings.
• Negative Sentiment: NCAA lawsuit over use of “March Madness” trademarks creates a legal/marketing headwind just as tournament-related betting activity peaks; potential settlement costs, branding limits or injunctions could dent near-term promo effectiveness. NCAA sues to block DraftKings from using March Madness trademarks

Insider Buying and Selling at DraftKings

In other DraftKings news, CAO Erik Bradbury sold 7,268 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $22.50, for a total value of $163,530.00. Following the sale, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at approximately $826,560. This trade represents a 16.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry Sloan bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director directly owned 350,219 shares of the company’s stock, valued at approximately $7,652,285.15. The trade was a 39.96% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 549,495 shares of company stock valued at $14,166,700. 51.19% of the stock is owned by corporate insiders.

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.