Erik Bradbury Sells 2,883 Shares of DraftKings (NASDAQ:DKNG) Stock

DraftKings Inc. (NASDAQ:DKNG) CAO Erik Bradbury sold 2,883 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $24.56, for a total value of $70,806.48. Following the completion of the transaction, the chief accounting officer directly owned 38,168 shares of the company’s stock, valued at $937,406.08. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Erik Bradbury also recently made the following trade(s):

• On Thursday, February 19th, Erik Bradbury sold 7,268 shares of DraftKings stock. The stock was sold at an average price of $22.50, for a total transaction of $163,530.00.

DraftKings Trading Up 4.0%

Shares of NASDAQ DKNG opened at $25.43 on Thursday. The firm has a 50 day moving average price of $29.19 and a two-hundred day moving average price of $34.28. The stock has a market cap of $12.54 billion, a P/E ratio of -635.75, a price-to-earnings-growth ratio of 1.01 and a beta of 1.67. DraftKings Inc. has a 52-week low of $21.01 and a 52-week high of $48.78. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03.

Key Stories Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: DraftKings rolled out a “DraftKings Sports & Casino” Super App to unify sportsbook, predictions, casino and lottery into one account/wallet — a product change investors view as improving cross‑sell, engagement and lifetime value. Read More.
• Positive Sentiment: Several analysts raised or reaffirmed bullish ratings after the Super App/predictions announcement — notably BMO boosting its target to $50 (outperform) and Citizens JMP keeping a market‑outperform view — which supports upside expectations and likely helped buying interest. Read More.
• Positive Sentiment: WSJ reports DraftKings plans to leverage its sports‑betting tech and product playbook to scale into prediction markets and challenge incumbents — this signals management has a concrete go‑to‑market plan for a new, higher‑growth revenue stream. Read More.
• Neutral Sentiment: Investor Day materials (prepared remarks/slides) were published — useful for updating models on product rollout, revenue mix and margins but not a direct near‑term catalyst by itself. Read More.
• Neutral Sentiment: CEO publicly stated ethical limits (won’t offer bets on geopolitical death/war) — reputationally positive but unlikely to materially affect short‑term revenue. Read More.
• Neutral Sentiment: Short‑interest figures in some feeds appear inconsistent/zeroed out and are likely a reporting artifact — treat current short‑interest snapshots with caution. (Feed item)
• Negative Sentiment: Chief Accounting Officer Erik Bradbury sold 2,883 shares (Form 4), a small insider sale (~$70.8k). It’s modest in size but some investors interpret insider selling as a minor negative signal. Read More.

Analysts Set New Price Targets

DKNG has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on DraftKings from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. The Goldman Sachs Group reduced their target price on DraftKings from $54.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. UBS Group reissued a “buy” rating on shares of DraftKings in a research report on Wednesday, January 7th. BTIG Research set a $35.00 price target on shares of DraftKings in a report on Tuesday. Finally, Canaccord Genuity Group reduced their price objective on shares of DraftKings from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Twenty-five equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.12.

Hedge Funds Weigh In On DraftKings

Several institutional investors have recently added to or reduced their stakes in DKNG. Integrated Wealth Concepts LLC grew its holdings in DraftKings by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,460 shares of the company’s stock worth $314,000 after purchasing an additional 524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in DraftKings by 1,141.0% during the 1st 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 raised its position in DraftKings by 18.0% in the 1st quarter. Empowered Funds LLC now owns 9,115 shares of the company’s stock valued at $303,000 after buying an additional 1,391 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of DraftKings in the second quarter valued at about $603,000. Finally, Envestnet Asset Management Inc. increased its stake in DraftKings by 24.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 569,347 shares of the company’s stock valued at $24,419,000 after buying an additional 111,826 shares during the last quarter. 37.70% of the stock is owned by institutional investors and hedge funds.

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.