Assenagon Asset Management S.A. Purchases 313,339 Shares of DraftKings Inc. $DKNG

Assenagon Asset Management S.A. increased its holdings in DraftKings Inc. (NASDAQ:DKNG) by 1,819.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,565 shares of the company’s stock after acquiring an additional 313,339 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of DraftKings worth $11,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of DraftKings by 1,996.2% during the 3rd quarter. Nordea Investment Management AB now owns 421,127 shares of the company’s stock worth $16,205,000 after acquiring an additional 401,037 shares in the last quarter. Massachusetts Financial Services Co. MA grew 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 worth $279,494,000 after purchasing an additional 79,152 shares during the last quarter. Citigroup Inc. grew its holdings in DraftKings by 40.6% in the third quarter. Citigroup Inc. now owns 1,939,764 shares of the company’s stock worth $72,547,000 after purchasing an additional 560,139 shares during the last quarter. Bedell Frazier Investment Counselling LLC acquired a new position in shares of DraftKings during the third quarter worth $4,492,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of DraftKings by 158.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 91,652 shares of the company’s stock valued at $3,931,000 after purchasing an additional 56,215 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: ESPN account‑linking could expand customer access and cross‑sell opportunities, a strategic positive that may boost long‑term revenue if adoption scales. How Will DraftKings (DKNG) Benefit From ESPN Account Linking
• Neutral Sentiment: Wall Street consensus remains an average “Buy,” but coverage appears optimistic; analysts’ ratings can influence flows yet may not reflect near‑term legal/regulatory risk. Wall Street Analysts Think DraftKings (DKNG) Is a Good Investment: Is It?
• Neutral Sentiment: Educational/how‑to pieces and buy guides increase retail visibility but are unlikely to move the stock materially versus the regulatory/legal headlines. How to Buy DraftKings Stock (DKNG) in 2026
• Negative Sentiment: Reports of a bipartisan Senate bill targeting loosely regulated prediction markets have hit sentiment — the bill raises regulatory risk for DraftKings’ newer products and was a major driver of the selloff. A Look At DraftKings (DKNG) Valuation As Regulation Tailwinds Meet Legal Scrutiny
• Negative Sentiment: Ongoing legal exposure — including a high‑profile NCAA‑related lawsuit and a product liability angle — is elevating settlement and compliance risk, contributing to the stock’s sharp YTD decline. DraftKings (DKNG) Stock Plunges 10% Amid Senate Bill and NCAA Legal Battle
• Negative Sentiment: Investor litigation/investigation: Scott+Scott has opened an inquiry into DraftKings’ directors/officers for potential fiduciary breaches, increasing governance risk and potential distraction/costs. DRAFTKINGS INC. INVESTOR ALERT: Scott+Scott Attorneys at Law LLP Investigates DraftKings Inc.’s Directors and Officers
• Negative Sentiment: Technicals and momentum are weak: the stock is well below key moving averages, has extended a multi‑week slide, and is nearer its 52‑week low than its high — increasing the chance of further downside on poor news. DraftKings Stock Is Trending Today: What Does The Chart Say?

Analyst Ratings Changes

DKNG has been the topic of several research analyst reports. Morgan Stanley dropped their target price on DraftKings from $53.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Rothschild & Co Redburn set a $35.00 price target on shares of DraftKings in a report on Friday, January 30th. Susquehanna set a $33.00 price objective on shares of DraftKings in a research note on Tuesday, February 17th. Jefferies Financial Group set a $46.00 price objective on shares of DraftKings in a report on Tuesday, March 3rd. Finally, BMO Capital Markets raised their target price on DraftKings from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Twenty-five 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.09.

DraftKings Stock Performance

NASDAQ:DKNG opened at $20.72 on Friday. The company’s 50-day moving average is $25.61 and its two-hundred day moving average is $31.68. 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 firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of -518.00, a PEG ratio of 0.85 and a beta of 1.67. DraftKings Inc. has a 1-year low of $20.53 and a 1-year high of $48.78.

Insider Buying and Selling

In other news, Director Harry Sloan purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the purchase, the director directly owned 350,219 shares of the company’s stock, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Liberman sold 484,417 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $25.16, for a total value of $12,187,931.72. Following the transaction, the insider owned 213,597 shares of the company’s stock, valued at approximately $5,374,100.52. This represents a 69.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 549,495 shares of company stock valued at $14,166,700 over the last quarter. 51.19% of the stock is owned by corporate insiders.

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.