42,697 DraftKings Inc. $DKNG Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its stake in DraftKings Inc. (NASDAQ:DKNG) by 57.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,991 shares of the company’s stock after selling 42,697 shares during the period. Oppenheimer & Co. Inc.’s holdings in DraftKings were worth $608,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CoreCap Advisors LLC increased its position in shares of DraftKings by 336.5% during the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after acquiring an additional 885 shares during the last quarter. Basecamp Wealth Advisors LLC lifted its holdings in shares of DraftKings by 3,547.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $27,000 after acquiring an additional 1,206 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of DraftKings in the 1st quarter worth approximately $27,000. Root Financial Partners LLC lifted its holdings in shares of DraftKings by 208.0% in the 1st quarter. Root Financial Partners LLC now owns 2,775 shares of the company’s stock worth $60,000 after acquiring an additional 1,874 shares during the last quarter. Finally, CX Institutional boosted its position in shares of DraftKings by 213.8% during the 3rd quarter. CX Institutional now owns 3,876 shares of the company’s stock worth $74,000 after purchasing an additional 2,641 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on DKNG. Sanford C. Bernstein dropped their target price on shares of DraftKings from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday. Susquehanna decreased their price target on DraftKings from $33.00 to $27.00 and set a “positive” rating on the stock in a research note on Thursday, October 8th. TD Cowen raised their price target on DraftKings from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Canaccord Genuity Group dropped their price objective on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Northland Securities set a $28.00 price objective on DraftKings in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.79.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Ahead of Q3 results, analysts pointed to momentum in DraftKings’ sportsbook, iGaming and Predictions businesses as potential growth drivers. DKNG Gears Up for Q3 Earnings: Sportsbook Growth & Costs in Focus
• Neutral Sentiment: Analyst views offered some support but also signaled caution: Bernstein cut its price target to $27 from $29 while retaining an “outperform” rating, while Needham’s $30 target was presented as evidence the selloff may have gone too far. Bernstein analyst update Needham’s $30 Target Says DraftKings’ Selloff Went Too Far
• Negative Sentiment: Marketing and other investments could weigh on Q3 profitability even as revenue drivers grow. Investors are also watching DraftKings’ costly push into prediction markets, where competition is increasing and regulations remain unsettled—risks that could limit returns or raise costs. DraftKings Faces Increasing Competition in Prediction Markets One Big Reason Investors Should Keep an Eye on DraftKings

Insider Buying and Selling at DraftKings

In other news, Director Jocelyn Moore sold 10,759 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total transaction of $258,753.95. Following the sale, the director owned 1,881 shares of the company’s stock, valued at approximately $45,238.05. This represents a 85.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 47.18% of the company’s stock.

DraftKings Trading Up 5.4%

Shares of DKNG stock opened at $23.11 on Thursday. DraftKings Inc. has a fifty-two week low of $18.35 and a fifty-two week high of $36.98. The company has a 50 day moving average price of $21.65 and a 200 day moving average price of $24.17. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.02 and a current ratio of 1.02.

DraftKings (NASDAQ:DKNG) last released its earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. DraftKings had a negative net margin of 2.68% and a negative return on equity of 11.26%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. Sell-side analysts forecast that DraftKings Inc. will post 0.31 earnings per share for the current year.

DraftKings Profile

DraftKings Inc is a digital sports entertainment and gaming company that operates online and mobile platforms for sports betting, casino gaming and daily fantasy sports. Its offerings include the DraftKings Sportsbook, DraftKings Casino and daily fantasy contests covering a range of professional and collegiate sports.

The company also provides related entertainment and media content through DraftKings Network, along with free-to-play games, promotions and other interactive products designed to complement its sports and gaming platforms.