DraftKings Inc. (NASDAQ:DKNG – Get Free Report) CFO Alan Ellingson acquired 18,908 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was purchased at an average price of $18.51 per share, for a total transaction of $349,987.08. Following the transaction, the chief financial officer directly owned 214,692 shares of the company’s stock, valued at approximately $3,973,948.92. This trade represents a 9.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DraftKings Stock Performance
Shares of NASDAQ:DKNG opened at $19.36 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.22. The company has a 50-day moving average price of $21.28 and a 200-day moving average price of $23.93. The company has a market cap of $9.65 billion, a price-to-earnings ratio of -24.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.65. DraftKings Inc. has a 12 month low of $16.55 and a 12 month high of $36.98.
DraftKings (NASDAQ:DKNG – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.12). DraftKings had a negative return on equity of 36.21% and a negative net margin of 5.91%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities analysts anticipate that DraftKings Inc. will post 0.31 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Citigroup cut their price objective on DraftKings from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday. Guggenheim decreased their target price on DraftKings from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday. BTIG Research dropped their price target on DraftKings from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen cut shares of DraftKings from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Benchmark lifted their price target on shares of DraftKings from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, DraftKings currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.61.
Read Our Latest Report on DraftKings
Key Stories Impacting DraftKings
Here are the key news stories impacting DraftKings this week:
- Positive Sentiment: CFO Alan Ellingson bought 18,908 shares for about $350,000, increasing his ownership by 9.66%. The insider purchase may signal confidence, though it does not resolve the company’s operating challenges. CFO stock purchase
- Neutral Sentiment: Citigroup lowered its price target to $22 from $28 but retained a Buy rating, indicating continued potential upside in the firm’s view alongside a more cautious valuation. Citigroup rating and target
- Negative Sentiment: DraftKings’ Q3 revenue of $1.33 billion rose 16.2% year over year but missed expectations; its reported loss per share was also wider than analysts expected. The company lowered its 2026 revenue outlook, while increased investment in prediction markets is weighing on profitability and projected EBITDA. Q3 results and outlook
- Negative Sentiment: Analysts have continued to downgrade DraftKings or reduce price targets after the results. Wells Fargo cut its rating to Equal Weight and lowered its target to $21 from $30; Berenberg moved to Hold with a $20 target. The revisions point to reduced confidence in the earnings outlook, with scrutiny of prediction markets adding uncertainty. Analyst downgrades
Institutional Trading of DraftKings
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ascentis Independent Advisors purchased a new position in shares of DraftKings during the 1st quarter worth approximately $27,000. Basecamp Wealth Advisors LLC raised its position 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 in the last quarter. CoreCap Advisors LLC lifted its stake in shares of DraftKings by 336.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares during the period. Heritage Family Offices LLP purchased a new position in shares of DraftKings in the 3rd quarter valued at approximately $44,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of DraftKings in the 3rd quarter valued at approximately $48,000. 37.70% of the stock is currently owned by hedge funds and other institutional investors.
DraftKings Company Profile
DraftKings Inc. is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming. The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations. DraftKings is headquartered in Boston, Massachusetts. Co-founder Jason Robins serves as the company’s chief executive officer.
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