DraftKings Shares Rise 1.4% as Volume Plummets to 342nd Rank Institutional Buys Offset Insider Sales

On August 20, 2025, DraftKings (NASDAQ:DKNG) closed with a 1.40% gain, while trading volume fell 36.86% to $0.30 billion, ranking 342nd in market activity. Recent developments highlight a mixed landscape of corporate actions and market sentiment.

The company reported a 36.9% year-over-year revenue increase for its latest quarter, reaching $1.51 billion, surpassing analyst expectations. Analysts maintain a consensus "buy" rating, with a target price of $54.50. Institutional investors have shown growing confidence, with Kovitz Investment Group Partners LLC boosting its stake by 185.8% in Q1, and Baillie Gifford & Co. increasing holdings by 26.5% during the same period.

However, insider activity has introduced volatility. Director Jocelyn Moore sold 4,861 shares at $43.21, reducing her ownership by 76.89%, while CFO Alan Ellingson and insider Matthew Kalish sold shares worth $249,209.25 and $9.01 million, respectively, in recent transactions. These sales followed a pattern of cautious positioning by key stakeholders.

Analyst activity has been largely positive, with Truist Financial and Benchmark upgrading price targets to $55.00 and $53.00, respectively. Despite this, the stock’s high beta of 1.70 and elevated debt-to-equity ratio of 1.82 suggest ongoing sensitivity to market swings and leverage risks.

A strategy of buying the top 500 stocks by daily trading volume and holding for one day from 2022 to 2025 yielded a total profit of $2,385.14 as of the latest data.