Nordea Investment Management AB Raises Stake in DraftKings Inc. $DKNG

Nordea Investment Management AB increased its holdings in shares of DraftKings Inc. (NASDAQ:DKNG) by 208.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,300,308 shares of the company’s stock after acquiring an additional 879,181 shares during the period. Nordea Investment Management AB’s holdings in DraftKings were worth $45,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DKNG. Viking Global Investors LP acquired a new stake in shares of DraftKings in the third quarter worth $561,125,000. Norges Bank acquired a new position in shares of DraftKings during the 2nd quarter valued at $362,554,000. AQR Capital Management LLC lifted its holdings in shares of DraftKings by 63.5% during the 3rd quarter. AQR Capital Management LLC now owns 11,685,672 shares of the company’s stock valued at $437,044,000 after acquiring an additional 4,538,007 shares in the last quarter. Brown Advisory Inc. boosted its position in DraftKings by 53,272.1% during the 2nd quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock worth $173,974,000 after purchasing an additional 4,048,680 shares during the period. Finally, Eminence Capital LP boosted its position in DraftKings by 31.9% during the 3rd quarter. Eminence Capital LP now owns 6,274,863 shares of the company’s stock worth $234,680,000 after purchasing an additional 1,517,413 shares during the period. 37.70% of the stock is owned by institutional investors and hedge funds.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: The introduction of a bipartisan Senate bill to ban sports wagers on prediction-market platforms is the primary catalyst lifting DraftKings: investors view the measure as removing an unregulated, low-cost competitor and creating a regulatory moat for licensed sportsbooks. This legislative news prompted heavy buying and call-option activity. DraftKings, Flutter shares surge as bill targets prediction market sports bets
• Positive Sentiment: Analyst support: BTIG reiterated a “buy” rating with a $35 price target, reinforcing upside expectations tied to improved competitive dynamics and longer-term margin recovery. BTIG reaffirms buy
• Neutral Sentiment: Investor reaction & technicals: The rally is accompanied by above-average volume and options skew toward calls, signaling short-term bullish positioning; technical levels (short-term moving averages) are being watched for follow-through. MarketBeat DKNG page
• Neutral Sentiment: Competition & regulatory focus: Independent reporting highlights continued pressure from prediction-market platforms (Kalshi, Polymarket) that prompted the new legislation — long-term competitive dynamics still matter for customer acquisition costs and margins. DraftKings faces growing pressure as prediction markets reshape betting outlook
• Neutral Sentiment: Analyst downgrade note: Argus recently downgraded DraftKings to Hold citing rising customer-acquisition costs and competitive pressure — a reminder that fundamentals still need to improve to justify valuations. InsiderMonkey on Argus downgrade
• Neutral Sentiment: Short-interest data in feeds looks inconsistent (reported as zero) and should not be relied on for positioning until clarified by official filings.
• Negative Sentiment: NCAA lawsuit over use of “March Madness” trademarks creates a legal/marketing headwind just as tournament-related betting activity peaks; potential settlement costs, branding limits or injunctions could dent near-term promo effectiveness. NCAA sues to block DraftKings from using March Madness trademarks

Insider Transactions at DraftKings

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $16,005,000. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul Liberman sold 484,417 shares of DraftKings stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total value of $12,187,931.72. Following the completion of the transaction, the insider owned 213,597 shares of the company’s stock, valued at approximately $5,374,100.52. The trade was a 69.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 549,495 shares of company stock valued at $14,166,700 over the last 90 days. Corporate insiders own 51.19% of the company’s stock.

Analyst Ratings Changes

DKNG has been the topic of several research reports. Truist Financial cut their price objective on DraftKings from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Stifel Nicolaus decreased their target price on DraftKings from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Canaccord Genuity Group lowered their target price on DraftKings from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, February 13th. JPMorgan Chase & Co. dropped their target price on DraftKings from $41.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Finally, Barclays reiterated an “overweight” rating on shares of DraftKings in a report on Tuesday, March 3rd. Twenty-five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.09.

DraftKings Trading Up 1.4%

DKNG opened at $24.00 on Tuesday. The stock has a market capitalization of $11.83 billion, a PE ratio of -599.88, a P/E/G ratio of 0.95 and a beta of 1.67. The firm’s fifty day moving average price is $26.61 and its 200 day moving average price is $32.17. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. DraftKings Inc. has a 12-month low of $21.01 and a 12-month high of $48.78.

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.