Allstate Corp Makes New $622,000 Investment in DraftKings Inc. $DKNG

Allstate Corp purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,633 shares of the company’s stock, valued at approximately $622,000.

Several other large investors have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of DraftKings by 1,996.2% during the third quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock worth $16,205,000 after buying an additional 401,037 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in DraftKings by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock valued at $279,494,000 after acquiring an additional 79,152 shares in the last quarter. Helios Capital Management PTE. Ltd. raised its holdings in DraftKings by 926.0% in the second quarter. Helios Capital Management PTE. Ltd. now owns 114,000 shares of the company’s stock valued at $4,889,000 after acquiring an additional 102,889 shares in the last quarter. Claro Advisors LLC lifted its stake in DraftKings by 121.4% in the second quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock worth $1,712,000 after acquiring an additional 21,890 shares during the last quarter. Finally, Swiss National Bank grew its holdings in DraftKings by 10.0% during the 2nd quarter. Swiss National Bank now owns 1,361,964 shares of the company’s stock worth $58,415,000 after acquiring an additional 124,200 shares in the last quarter. 37.70% of the stock is currently owned by institutional investors and hedge funds.

DraftKings Trading Up 0.1%

Shares of DraftKings stock opened at $31.62 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.09 and a current ratio of 1.10. The company has a market capitalization of $15.74 billion, a P/E ratio of -55.47, a PEG ratio of 0.64 and a beta of 1.63. DraftKings Inc. has a 1 year low of $26.23 and a 1 year high of $53.61. The company’s fifty day moving average is $33.54 and its two-hundred day moving average is $38.05.

DraftKings (NASDAQ:DKNG) last announced its earnings results on Friday, November 7th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.27). DraftKings had a negative net margin of 4.90% and a negative return on equity of 22.84%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company posted ($0.60) earnings per share. DraftKings’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast that DraftKings Inc. will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

DKNG has been the topic of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price objective (down from $50.00) on shares of DraftKings in a report on Monday, November 10th. BMO Capital Markets dropped their target price on DraftKings from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Citigroup initiated coverage on DraftKings in a report on Friday, November 21st. They set a “buy” rating and a $48.00 price target for the company. Morgan Stanley upped their price objective on DraftKings from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Truist Financial lowered their price target on DraftKings from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Twenty-four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DraftKings currently has an average rating of “Moderate Buy” and an average target price of $47.10.

Insider Buying and Selling

In other DraftKings news, CFO Alan Wayne Ellingson sold 8,421 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $29.23, for a total transaction of $246,145.83. Following the completion of the transaction, the chief financial officer owned 126,990 shares in the company, valued at approximately $3,711,917.70. This represents a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of DraftKings 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 completion of the sale, the insider directly owned 500,000 shares in the company, valued at approximately $16,005,000. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 166,752 shares of company stock worth $5,252,044 over the last three months. 51.19% of the stock is owned by company insiders.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Analyst bullish case — A Seeking Alpha note argues prediction markets aren’t a material threat to DraftKings’ core sportsbook growth, cites record hold percentage, improved net revenue margin and user metrics in recent quarters, and values DKNG at ~30x EBITDA / 2.6x sales with a $44 forward price target. This supports a constructive intermediate outlook. Are Prediction Markets Really A Threat To DraftKings?
• Positive Sentiment: Event catalyst — MarketBeat highlights the Super Bowl as a near-term revenue catalyst and suggests recent weak game outcomes were transitory; higher betting volume and a richer parlay mix could drive a swift revenue rebound if trends normalize. The Super Bowl Catalyst
• Neutral Sentiment: Media attention / TV commentary — Jim Cramer flagged DraftKings and emphasized state expansion (notably Texas, California, Florida) as the major upside driver; his comments keep regulatory roll‑out risk/reward top of mind but don’t change fundamentals today. Jim Cramer on DraftKings
• Neutral Sentiment: Analyst/press roundup — Several press items (Globe and Mail, Zacks) show mixed analyst views and elevated investor attention; coverage is increasing but consensus remains split on growth trajectory vs. near‑term volatility. Analysts Offer Insights Zacks: Attracting Investor Attention
• Negative Sentiment: Recent trading / performance pullback — MarketWatch noted a recent intraday decline (yet outperformance vs. the broader market at the time), reflecting continued sensitivity to quarterly misses, event outcomes, and investor rotation; DKNG still trades below its 200‑day MA and faces margin/leverage headwinds. MarketWatch: Stock Falls

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.