DraftKings (NASDAQ:DKNG) Shares Down 5.1% – Here’s What Happened

Posted by Geri Gentry on Sep 29th, 2026

DraftKings Inc. (NASDAQ:DKNG – Get Free Report)’s share price was down 5.1% during mid-day trading on Tuesday. The stock traded as low as $20.11 and last traded at $20.0750. 8,846,872 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 13,442,821 shares. The stock had previously closed at $21.16.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of DraftKings from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Susquehanna reduced their price objective on DraftKings from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Wednesday, July 1st. Guggenheim decreased their price objective on DraftKings from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Stifel Nicolaus lowered their price objective on DraftKings from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered DraftKings from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.29.

View Our Latest Report on DKNG

DraftKings Trading Down 5.4%

The business has a 50-day moving average price of $23.89 and a two-hundred day moving average price of $24.42. The company has a market cap of $9.94 billion, a P/E ratio of -52.83, a P/E/G ratio of 1.80 and a beta of 1.63. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG – Get Free Report) last issued 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.51 billion. DraftKings had a negative return on equity of 11.26% and a negative net margin of 2.68%.The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, analysts predict that DraftKings Inc. will post 0.49 EPS for the current year.

Insider Activity

In related news, Director Jocelyn Moore sold 10,759 shares of DraftKings stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total value 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 trade represents a 85.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 47.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its stake in DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after acquiring an additional 12,008,357 shares during the period. Janus Henderson Group PLC increased its stake in DraftKings by 50.8% in the fourth quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock valued at $858,893,000 after acquiring an additional 8,524,923 shares during the last quarter. Norges Bank bought a new position in DraftKings in the fourth quarter valued at approximately $284,466,000. Spruce House Investment Management LLC raised its position in DraftKings by 129.6% during 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 purchasing an additional 5,446,166 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in DraftKings by 55.9% during the fourth quarter. Capital Research Global Investors now owns 6,615,721 shares of the company’s stock worth $227,978,000 after purchasing an additional 2,372,520 shares during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings Company Profile

(Get Free Report)

DraftKings Inc is a digital sports entertainment and gaming company that operates online sports betting, iGaming and daily fantasy sports platforms. Its products enable customers to place bets on professional and collegiate sports, play online casino games where permitted, and participate in fantasy contests across a range of sports.

The company also offers related services, including retail sportsbooks in select jurisdictions and sports media content through DraftKings Network. Its offerings are available in U.S.