Intech Investment Management LLC Has $2.17 Million Position in DraftKings Inc. $DKNG

Intech Investment Management LLC lessened its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 66.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,971 shares of the company’s stock after selling 113,072 shares during the period. Intech Investment Management LLC’s holdings in DraftKings were worth $2,168,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in DraftKings by 1.6% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of DraftKings by 5.4% during the second 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 period. Norges Bank bought a new stake in DraftKings in the 2nd quarter valued at $362,554,000. Massachusetts Financial Services Co. MA boosted its stake in DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after purchasing an additional 79,152 shares during the period. Finally, AQR Capital Management LLC boosted its stake in 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 during the period. 37.70% of the stock is owned by institutional investors.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: BMO Capital Markets raised its price target to $50 and assigned an “outperform” rating, signaling outsized upside vs. the current price and lending credibility to the growth story. BMO Raise
• Positive Sentiment: Citizens Jmp reaffirmed a “market outperform” rating with a $38 price target, another analyst endorsement supporting the rally. Citizens Jmp Rating
• Positive Sentiment: DraftKings unveiled a unified “DraftKings Sports & Casino” Super App that integrates sportsbook, predictions, casino and lottery into one wallet and account and signals a material push into prediction markets and expanded AI — a strategic pivot investors view as expanding monetization and engagement opportunities. Super App Unveil
• Neutral Sentiment: Market commentary notes DraftKings is outperforming a weak market today as analysts roll in upgrades and note the company’s new strategy; useful context but more evidence needed to confirm sustained earnings impact. Market Commentary
• Neutral Sentiment: DraftKings published Analyst/Investor Day materials (prepared remarks and slideshow) that flesh out the roadmap for product integration and growth; these decks provide detail but investors will watch execution and metrics. Investor Day Transcript Slides
• Neutral Sentiment: Short-interest data in the filings appears anomalous (reports show 0 shares / NaN increases and 0 days-to-cover), so there’s no clear signal from shorting activity at this time; treat these figures with caution.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8K) and reduced his stake by ~7% — an insider sale that can be read negatively by some investors, though it may be routine or for personal liquidity. SEC Filing

DraftKings Trading Up 2.6%

Shares of DraftKings stock opened at $24.45 on Wednesday. The stock has a market cap of $12.05 billion, a P/E ratio of -611.25, a P/E/G ratio of 0.98 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. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78. The business’s 50 day moving average is $29.37 and its 200-day moving average is $34.34.

Analyst Ratings Changes

A number of brokerages have recently commented on DKNG. Barclays restated an “overweight” rating on shares of DraftKings in a report on Tuesday. Macquarie Infrastructure cut their target price on DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. BTIG Research set a $35.00 price target on DraftKings in a research report on Tuesday. Berenberg Bank set a $26.40 price objective on shares of DraftKings in a report on Tuesday, February 24th. Finally, Mizuho cut their price objective on shares of DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Twenty-five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.12.

Insiders Place Their Bets

In other news, Director Harry Sloan purchased 100,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the purchase, the director directly owned 350,219 shares in the company, valued at $7,652,285.15. The trade was a 39.96% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider owned 500,000 shares in the company, valued at $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 62,928 shares of company stock valued at $1,923,728. 47.08% of the stock is currently owned by corporate insiders.

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.