Pinpoint Asset Management Singapore Pte. Ltd. Lowers Stock Holdings in DraftKings Inc. $DKNG

Pinpoint Asset Management Singapore Pte. Ltd. lessened its stake in DraftKings Inc. (NASDAQ:DKNG) by 95.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,137 shares of the company’s stock after selling 60,952 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in DraftKings were worth $117,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of DraftKings in the 2nd quarter valued at approximately $362,554,000. Brown Advisory Inc. increased its holdings in shares of DraftKings by 53,272.1% in the second quarter. Brown Advisory Inc. now owns 4,056,280 shares of the company’s stock valued at $173,974,000 after purchasing an additional 4,048,680 shares during the period. AQR Capital Management LLC raised its stake in shares of DraftKings by 52.2% during the second 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 last quarter. Columbus Hill Capital Management L.P. raised its stake in shares of DraftKings by 1,379.5% during the second quarter. Columbus Hill Capital Management L.P. now owns 1,183,580 shares of the company’s stock worth $50,764,000 after purchasing an additional 1,103,580 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of DraftKings by 33.9% during the second quarter. Bamco Inc. NY now owns 3,670,460 shares of the company’s stock worth $157,426,000 after purchasing an additional 929,997 shares during the period. 37.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DKNG. Morgan Stanley dropped their price objective on shares of DraftKings from $53.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Citizens Jmp restated a “market outperform” rating and issued a $38.00 target price on shares of DraftKings in a research note on Tuesday, March 3rd. Macquarie Infrastructure lowered their target price on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. BMO Capital Markets boosted their price target on shares of DraftKings from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Finally, Guggenheim set a $37.00 price target on shares of DraftKings in a report on Tuesday, February 17th. Twenty-five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.19.

DraftKings Price Performance

DraftKings stock opened at $25.11 on Monday. The company has a market cap of $12.38 billion, a P/E ratio of -627.75, a price-to-earnings-growth ratio of 1.03 and a beta of 1.67. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78. The business has a fifty day moving average of $28.82 and a two-hundred day moving average of $33.91. 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: ESPN/Disney integration and account-linking ahead of March Madness should drive engagement and conversion between ESPN audiences and DraftKings’ Sportsbook, plus a new “Bet Your Bracket” feature adds event-driven monetization potential. DraftKings and Disney strike a key integration deal ahead of March Madness
• Positive Sentiment: BusinessWire/ESPN details show account linking will personalize experiences and unlock exclusive features, which can boost ARPU and customer retention during a high-activity period for sports betting. DraftKings and ESPN Detail Plans to Provide Account Linking for Customers
• Positive Sentiment: The rollout of a unified “Super App” (Sportsbook, Casino, Predictions, Lottery) and expansion into prediction markets create new cross-sell and monetization paths that analysts see as a growth catalyst. DraftKings Super App And Prediction Push Test Ethics And Legal Risks
• Positive Sentiment: Multiple brokerage upgrades and coverage notes (Goldman Sachs, Susquehanna, BMO, Citizens JMP) and recent insider buying signal analyst confidence and insider conviction, which can support buy-side interest. DraftKings (DKNG) Receives a Buy from Goldman Sachs
• Neutral Sentiment: Short-interest data reported this cycle is inconsistent/unclear; current figures don’t provide a clear near-term squeeze or pressure signal. (No clear actionable short-covering dynamic at present.)
• Negative Sentiment: Media and legal pieces flag ethics and regulatory risk from the Super App and prediction-market push, plus class-action scrutiny over past promotional marketing — these could produce regulatory headaches, compliance costs or reputational damage. DraftKings Super App And Prediction Push Test Ethics And Legal Risks

Insider Activity

In other DraftKings news, insider R Stanton Dodge sold 52,777 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total transaction of $1,689,391.77. Following the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Erik Bradbury sold 7,268 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $22.50, for a total transaction of $163,530.00. Following the completion of the transaction, the chief accounting officer directly owned 36,736 shares of the company’s stock, valued at approximately $826,560. This trade represents a 16.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,928 shares of company stock worth $1,923,728 in the last 90 days. 51.19% of the stock is currently owned by corporate insiders.

About DraftKings

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.