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

DraftKings Inc. (NASDAQ:DKNG) CFO Alan Ellingson purchased 18,908 shares of the company’s stock in a transaction on Monday, November 9th. The stock was acquired at an average price of $18.51 per share, with a total value of $349,987.08. Following the purchase, the chief financial officer owned 214,692 shares of the company’s stock, valued at approximately $3,973,948.92. This represents a 9.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

DraftKings Stock Up 1.0%

DraftKings stock opened at $18.70 on Tuesday. The firm has a market capitalization of $9.28 billion, a P/E ratio of -23.37, a P/E/G ratio of 3.03 and a beta of 1.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22. DraftKings Inc. has a twelve month low of $16.55 and a twelve month high of $36.98. The stock’s fifty day simple moving average is $21.37 and its 200-day simple moving average is $23.99.

DraftKings (NASDAQ:DKNG) last released 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 during the quarter, compared to analysts’ expectations of $1.39 billion. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) earnings per share. As a group, equities analysts expect that DraftKings Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BTIG Research reduced their price target on DraftKings from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley lowered their price objective on DraftKings from $36.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Moffett Nathanson restated a “neutral” rating and set a $22.00 target price on shares of DraftKings in a research note on Thursday, October 22nd. Wells Fargo & Company lowered shares of DraftKings from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $30.00 to $21.00 in a research note on Monday. Finally, Wolfe Research initiated coverage on shares of DraftKings in a report on Wednesday, September 2nd. They issued an “outperform” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.81.

Hedge Funds Weigh In On DraftKings

Several large investors have recently bought and sold shares of DKNG. Spruce House Investment Management LLC raised its stake in DraftKings by 129.6% in the first quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock valued at $208,633,000 after buying an additional 5,446,166 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in DraftKings by 9.3% during the 1st quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock worth $588,288,000 after buying an additional 2,351,790 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in DraftKings during the 2nd quarter worth about $24,014,000. Renaissance Technologies LLC acquired a new position in shares of DraftKings during the 1st quarter worth about $17,660,000. Finally, Quantinno Capital Management LP boosted its position in shares of DraftKings by 273.9% during the 1st quarter. Quantinno Capital Management LP now owns 898,241 shares of the company’s stock worth $19,420,000 after acquiring an additional 658,006 shares in the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: CFO Alan Ellingson bought 18,908 shares for about $350,000, increasing his stake by 9.66%. The purchase may signal confidence from an executive, though it does not offset the company’s operating challenges. SEC filing
• Neutral Sentiment: Some analysts retained Buy or similar ratings despite cutting their targets, suggesting they still see potential upside if DraftKings executes. Separately, reports point to rising hopes for legal sports betting in Texas, although prediction-market activity is drawing scrutiny. Texas betting hopes and prediction markets
• Negative Sentiment: Third-quarter revenue rose 16% year over year but missed expectations, and adjusted earnings were also worse than forecast. Higher spending on its new prediction-markets business is weighing on profitability; DraftKings cut its 2026 outlook, while commentary on the 2027 outlook has been mixed. Q3 earnings call highlights
• Negative Sentiment: Analysts including JPMorgan, UBS and Stifel downgraded the stock, and multiple firms cut price targets following the results and guidance. JPMorgan moved its rating to Neutral and lowered its target to $21, reflecting greater concern about the outlook. Analyst downgrades and prediction-market losses
• Negative Sentiment: A shareholder-investigation firm announced it is examining potential securities claims involving DraftKings, adding a legal overhang; the notice does not establish that a claim has merit. Shareholder investigation notice

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.