Swiss National Bank Sells 74,400 Shares of DraftKings Inc. $DKNG

Key Points

• Swiss National Bank cut its stake in DraftKings by 5.5% in Q3, selling 74,400 shares and now holds 1,287,564 shares (about 0.26% of the company) worth $48,155,000.
• Insider activity was notable: director Harry Sloan bought 100,000 shares at $21.85 while co‑founder Paul Liberman sold 484,417 shares at $25.16; insiders have sold 547,345 shares in the last 90 days and collectively own 51.19% of the stock.
• Analysts maintain a consensus Moderate Buy with a $37.19 average target; the stock opened at $25.60, has a one‑year range of $21.01–$48.78, and a market cap of $12.62 billion.

Swiss National Bank cut its stake in DraftKings Inc. (NASDAQ:DKNG - Free Report) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,287,564 shares of the company's stock after selling 74,400 shares during the quarter. Swiss National Bank owned 0.26% of DraftKings worth $48,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of DraftKings during the third quarter valued at approximately $1,369,000. Russell Investments Group Ltd. grew its holdings in DraftKings by 15.3% during the third quarter. Russell Investments Group Ltd. now owns 231,538 shares of the company's stock worth $8,660,000 after buying an additional 30,709 shares in the last quarter. Schroder Investment Management Group raised its position in DraftKings by 7.5% in the 3rd quarter. Schroder Investment Management Group now owns 822,106 shares of the company's stock valued at $30,747,000 after buying an additional 57,333 shares during the last quarter. Inceptionr LLC bought a new position in DraftKings during the 3rd quarter valued at $794,000. Finally, Private Advisor Group LLC lifted its stake in DraftKings by 13.0% during the 3rd quarter. Private Advisor Group LLC now owns 151,608 shares of the company's stock valued at $5,670,000 after acquiring an additional 17,473 shares in the last quarter. Institutional investors own 37.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DKNG. Deutsche Bank Aktiengesellschaft set a $26.00 target price on shares of DraftKings in a research note on Tuesday, February 17th. Citizens Jmp reissued a "market outperform" rating and set a $38.00 price target on shares of DraftKings in a research report on Tuesday, March 3rd. BTIG Research set a $35.00 price target on shares of DraftKings in a report on Tuesday, March 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of DraftKings in a research report on Thursday, March 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of DraftKings in a research note on Tuesday, March 3rd. Twenty-five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, DraftKings presently has an average rating of "Moderate Buy" and a consensus target price of $37.19.

Insider Transactions at DraftKings

In other DraftKings news, Director Harry Sloan bought 100,000 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the transaction, the director directly owned 350,219 shares of the company's stock, valued at $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Liberman sold 484,417 shares of DraftKings stock in a transaction dated 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 completion of the transaction, the insider owned 213,597 shares of the company's stock, valued at $5,374,100.52. The trade was a 69.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 547,345 shares of company stock valued at $14,111,660. 51.19% of the stock is currently owned by insiders.

DraftKings Stock Up 0.1%

Shares of NASDAQ DKNG opened at $25.60 on Friday. DraftKings Inc. has a one year low of $21.01 and a one year high of $48.78. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.03 and a quick ratio of 1.03. The business's fifty day moving average price is $28.08 and its 200-day moving average price is $33.50. The stock has a market capitalization of $12.62 billion, a PE ratio of -640.03, a P/E/G ratio of 1.05 and a beta of 1.67.

DraftKings 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.

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