HighTower Advisors LLC Sells 36,942 Shares of DraftKings Inc. $DKNG

HighTower Advisors LLC lowered its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 21.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 134,792 shares of the company’s stock after selling 36,942 shares during the quarter. HighTower Advisors LLC’s holdings in DraftKings were worth $5,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in DraftKings by 1.6% during the second quarter. Vanguard Group Inc. now owns 43,761,344 shares of the company’s stock valued at $1,876,924,000 after buying an additional 670,884 shares during the period. Geode Capital Management LLC boosted its stake in shares of DraftKings by 5.4% during the 2nd quarter. Geode Capital Management LLC now owns 9,014,088 shares of the company’s stock worth $385,552,000 after acquiring an additional 458,452 shares during the last quarter. Norges Bank purchased a new position in shares of DraftKings during the 2nd quarter worth $362,554,000. Massachusetts Financial Services Co. MA grew its position in shares of DraftKings by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock valued at $279,494,000 after acquiring an additional 79,152 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of DraftKings by 52.2% in the 2nd quarter. AQR Capital Management LLC now owns 7,147,665 shares of the company’s stock worth $306,563,000 after purchasing an additional 2,451,421 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Expanded addressable market — DraftKings launched its online sportsbook in Puerto Rico, adding a new regulated market and incremental revenue potential as it grows its footprint. DraftKings Launches Online Sportsbook in Puerto Rico
• Positive Sentiment: Institutional support remains — Jefferies kept a Buy rating on DKNG, saying the recent share decline may be near its end even after trimming its price target, which supports the case for longer-term upside if execution continues. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating
• Positive Sentiment: Longer-term TAM potential flagged by analysts — Commentary from DraftKings’ investor day highlights expanded total‑addressable‑market opportunities (including prediction markets) and analyst interest in FY28 forecasts, suggesting upside if growth targets and product rollouts materialize. DraftKings Investor Day: Analyst Sees TAM Growth Potential
• Neutral Sentiment: Mixed insider activity — Company filings show a director bought a sizable stake while the Chief Accounting Officer sold shares; insiders are expanding into Arkansas and preparing a predictive-event product, which is strategically relevant but mixed in near-term signaling. DraftKings Insider Moves Frame Arkansas Expansion And New Prediction Platform
• Neutral Sentiment: Wall Street ratings are supportive but mixed in usefulness — The stock’s average brokerage recommendation reads as a Buy, but coverage commentary cautions investors that consensus ratings can be overly optimistic and should be weighed against fundamentals. Is It Worth Investing in DraftKings Based on Wall Street’s Bullish Views?
• Negative Sentiment: Cautious 2026 guidance and higher spending weigh on valuation — Management returned to profitability but issued conservative 2026 revenue guidance and signaled increased spending (prediction markets, new market entry), raising near‑term uncertainty around growth and margins and pressuring the share price. A Look At DraftKings Valuation After Cautious 2026 Guidance And Higher Spending Plans
• Negative Sentiment: Analyst target trims and market reaction — Some analysts have cut price targets (e.g., Jefferies trimmed its target), and commentary notes continued downward pressure on the shares as the market reprices DraftKings around slower near‑term growth and heavier investment. Jeffries Thinks DraftKings Share Decline Is Nearing End, Keeps Buy Rating

Insiders Place Their Bets

In related news, Director Harry Sloan acquired 100,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was 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 in the company, valued at $7,652,285.15. This represents a 39.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the sale, the insider owned 500,000 shares in the company, valued at approximately $16,005,000. The trade was a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 112,822 shares of company stock worth $3,638,895 in the last three months. 47.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of DraftKings in a research report on Wednesday, January 21st. Mizuho decreased their price objective on DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus cut their price objective on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Barclays reduced their target price on shares of DraftKings from $44.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Finally, Canaccord Genuity Group lowered their price target on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, DraftKings has a consensus rating of “Moderate Buy” and an average target price of $37.89.

DraftKings Stock Performance

NASDAQ:DKNG opened at $21.81 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78. The stock has a 50-day moving average price of $30.68 and a 200 day moving average price of $35.18. The stock has a market capitalization of $10.75 billion, a P/E ratio of -545.25, a P/E/G ratio of 0.92 and a beta of 1.67.

About DraftKings

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.