Cibc World Market Inc. Cuts Stake in DraftKings Inc. $DKNG

Cibc World Market Inc. lessened its stake in shares of DraftKings Inc. (NASDAQ:DKNG) by 21.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,119 shares of the company’s stock after selling 34,386 shares during the period. Cibc World Market Inc.’s holdings in DraftKings were worth $4,679,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in 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 purchasing an additional 401,037 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of DraftKings by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,473,099 shares of the company’s stock worth $279,494,000 after buying an additional 79,152 shares in the last quarter. Helios Capital Management PTE. Ltd. grew its stake in DraftKings by 926.0% in the 2nd 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 during the last quarter. Claro Advisors LLC increased its holdings in DraftKings by 121.4% during the 2nd quarter. Claro Advisors LLC now owns 39,915 shares of the company’s stock valued at $1,712,000 after acquiring an additional 21,890 shares in the last quarter. Finally, Swiss National Bank raised its position in DraftKings by 10.0% during the second 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 during the last quarter. Institutional investors own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Q4 revenue and margin progress — DraftKings reported +43% year‑over‑year revenue and said it achieved record revenue and adjusted EBITDA, signaling strong top‑line growth and improving operating results. DraftKings Reports Fourth Quarter Revenue Growth of 43%
• Positive Sentiment: Some analysts remain constructive — BTIG kept a “buy” rating despite cutting the price target to $37, still implying substantial upside from current levels, which can provide a floor for longer‑term buyers. Benzinga
• Neutral Sentiment: Mixed analyst updates — Benchmark and Bank of America trimmed targets (Benchmark to $29 with a buy, BofA to $30 with neutral). Ratings remain mixed between buy/neutral, leaving analyst coverage supportive but less bullish. TickerReport
• Neutral Sentiment: Earnings call and transcript available — Investors can review management’s Q4 commentary and guidance rationale in the transcript to assess credibility of the company’s longer‑term prediction‑market strategy. Earnings Call Transcript
• Negative Sentiment: EPS missed expectations — DraftKings reported $0.36 EPS vs consensus ~ $0.45, a clear earnings miss that pressured the stock despite revenue growth. MarketBeat Earnings Report
• Negative Sentiment: Cautious FY‑2026 guidance — Management’s revenue guidance came in below consensus (company guided roughly $6.5B–$6.9B vs ~ $7.3B Street estimate), signaling slower near‑term growth and prompting downward revisions. Press Release / Slides
• Negative Sentiment: Prediction‑market risk and regulatory scrutiny — The company’s large prediction‑markets ambitions are drawing regulatory attention (CFTC) and investor skepticism about timing and profitability of that business, adding uncertainty to growth assumptions. WSJ
• Negative Sentiment: High trading volume / selling pressure — The session showed well‑above‑average volume, indicating aggressive repositioning by investors after the miss and guidance, which amplified the downward move. ProactiveInvestors

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial lowered shares of DraftKings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Northland Securities raised DraftKings from an “under perform” rating to a “market perform” rating in a research note on Monday, November 10th. Guggenheim dropped their price target on DraftKings from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Morgan Stanley upped their price objective on DraftKings from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of DraftKings in a research report on Wednesday, November 19th. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, DraftKings currently has an average rating of “Moderate Buy” and a consensus target price of $44.14.

DraftKings Stock Down 13.5%

NASDAQ:DKNG opened at $21.76 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.51. The stock has a 50 day moving average of $32.22 and a 200-day moving average of $36.20. The firm has a market capitalization of $10.83 billion, a PE ratio of -544.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67. DraftKings Inc. has a 52 week low of $21.01 and a 52 week high of $53.61.

Insider Activity

In other news, insider R Stanton Dodge sold 52,777 shares of the company’s 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 transaction, the insider owned 500,000 shares in the company, valued at approximately $16,005,000. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 51.19% of the company’s stock.

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.