Oak Thistle LLC Sells 60,887 Shares of DraftKings Inc. $DKNG

Key Points

• Oak Thistle LLC reduced its stake in DraftKings by 74.3%, selling 60,887 shares in Q4 and remaining with 21,029 shares valued at about $725,000.
• Company insiders sold a combined 549,495 shares (~$14.17M) last quarter — including Paul Liberman (484,417) and R. Stanton Dodge (52,777) — while insiders still own 47.18% of the stock and institutions own 37.7%.
• Market context: DKNG is trading near its 52‑week low (opened $22.23; 52‑week low $20.46) with an $11.02B market cap and a consensus "Moderate Buy" $36.23 target, but recent concerns about costly "Predictions" product development and regulatory risk have pressured the shares (one‑day drop ~6%).

Oak Thistle LLC lessened its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 74.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,029 shares of the company's stock after selling 60,887 shares during the quarter. Oak Thistle LLC's holdings in DraftKings were worth $725,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DKNG. IHT Wealth Management LLC lifted its position in DraftKings by 4.1% in the 2nd quarter. IHT Wealth Management LLC now owns 6,271 shares of the company's stock valued at $269,000 after acquiring an additional 248 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in DraftKings by 3.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company's stock worth $397,000 after purchasing an additional 321 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of DraftKings by 7.3% in the 3rd quarter. Geneos Wealth Management Inc. now owns 4,793 shares of the company's stock valued at $179,000 after purchasing an additional 328 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of DraftKings by 3.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,009 shares of the company's stock valued at $429,000 after purchasing an additional 348 shares during the period. Finally, Huntleigh Advisors Inc. lifted its holdings in shares of DraftKings by 0.8% in the third quarter. Huntleigh Advisors Inc. now owns 43,630 shares of the company's stock valued at $1,632,000 after purchasing an additional 363 shares in the last quarter. Institutional investors own 37.70% of the company's stock.

Insider Buying and Selling

In related news, insider R Stanton Dodge sold 52,777 shares of the firm's stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the transaction, the insider directly owned 500,000 shares of the company's stock, valued at approximately $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Liberman sold 484,417 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total transaction of $12,187,931.72. Following the transaction, the insider owned 213,597 shares in the company, valued at approximately $5,374,100.52. The trade was a 69.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 549,495 shares of company stock worth $14,166,700 in the last quarter. 47.18% of the stock is owned by company insiders.

DraftKings Stock Performance

Shares of NASDAQ DKNG opened at $22.23 on Friday. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $23.99 and a 200 day moving average price of $30.19. The stock has a market capitalization of $11.02 billion, a PE ratio of -555.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.68. DraftKings Inc. has a 52 week low of $20.46 and a 52 week high of $48.78.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DKNG. Sanford C. Bernstein reiterated an "outperform" rating and set a $30.00 price objective on shares of DraftKings in a report on Thursday, March 5th. Jefferies Financial Group set a $46.00 price target on DraftKings in a research report on Tuesday, March 3rd. Citizens Jmp decreased their price target on shares of DraftKings from $38.00 to $34.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 1st. Needham & Company LLC reiterated a "buy" rating and issued a $35.00 price objective on shares of DraftKings in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of DraftKings from $54.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Twenty-five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.23.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Analysts maintain a consensus "Moderate Buy" rating, which provides some institutional support for the shares. DraftKings Inc. NASDAQ: DKNG Receives Consensus Recommendation of "Moderate Buy" from Analysts
• Positive Sentiment: A Wells Fargo analyst reiterated expectations that DKNG's stock could rise, offering a counterpoint to recent bearish headlines. DraftKings NASDAQ: DKNG Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
• Neutral Sentiment: A valuation piece highlights DraftKings' large $6.1B revenue base but notes the stock has underperformed, framing the stock as a big but currently stressed operator. Assessing DraftKings (DKNG) Valuation As Shares Struggle Despite A US$6.1b Revenue Base
• Neutral Sentiment: 24/7 Wall St. publishes a near-term "hold" price target (~$24), signaling analysts see limited upside without clearer execution. DraftKings Price Prediction: Where The Stock Is Going This Year
• Neutral Sentiment: Short-interest data reported as zero appears to be a data anomaly and offers no clear signal on incremental bearish positioning. (Internal short-interest report)
• Neutral Sentiment: Market roundup pieces list DraftKings among movers, but they don’t add material fresh catalysts. G-III, DraftKings, Matthews, PVH, and Columbia Sportswear Shares Skyrocket, What You Need To Know
• Negative Sentiment: Investors are spooked by DraftKings' heavy upfront investment in its Predictions product — tens of millions in costs with no 2026 revenue assumed — weighing on near-term margins and sentiment. DKNG's Predictions Bet: Are Upfront Costs Clouding Near-Term Outlook?
• Negative Sentiment: Coverage reports the stock "cratered" intraday (~6% drop) as investors reacted to product-cost concerns, contributing to the recent drawdown. DraftKings Craters 6% as Predictions Product Costs Spook Investors
• Negative Sentiment: Opinion pieces urging investors to sell cite the stock's sharp six‑month decline and softer results, increasing downside pressure from retail and momentum sellers. 3 Reasons to Sell DKNG and 1 Stock to Buy Instead
• Negative Sentiment: Regulatory risk: reports that Ohio is considering sports-betting limits add jurisdictional uncertainty that could cap growth in a meaningful US market. DraftKings stock falls as Ohio mulls sports betting limits

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.

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