Woodrow Levin, a director at DraftKings Inc., recently executed a substantial sale of company stock. On May 18, 2026, Mr. Levin sold 34,234 shares of the firm's Class A Common Stock. These transactions amounted to a total value of $880,156.
Reviewing the details of the transaction, the shares were sold at a weighted average price of $25.71 per share. According to documentation related to the filing, these sales took place across multiple transactions, with recorded prices ranging from $25.70 to $25.73, inclusive.
As context for the market movement, DraftKings stock currently trades at $25.54. This represents a decline of 25% year-to-date. Despite this downward trend, an analysis conducted by InvestingPro suggests that the company may still be undervalued when compared to its calculated Fair Value.
Following the recent divestment, Mr. Levin's direct holdings in DraftKings Class A Common Stock are noted at 29,820 shares. His indirect ownership structure includes 10 shares held through OneSix Red, LLC, and a larger holding of 44,616 shares managed via the Levin Family 2015 Irrevocable Trust.
The recent activity in insider trading comes against a backdrop of robust operational performance reported by DraftKings Inc. In its first quarter report, the company announced revenue and adjusted EBITDA figures that exceeded what had been consensus estimates set by market analysts.
This strong financial showing was primarily attributed to two key areas: significant monetization within its Sportsbook segment and overall improvements in operating efficiency across the business model. Furthermore, DraftKings reaffirmed its guidance for fiscal 2026, even though there was a minor deceleration observed in iCasino net gaming revenue.
The positive momentum has drawn continued attention from financial analysts. Multiple firms reiterated their Buy ratings on the stock. Specifically, analysts at Benchmark, Truist Securities, and Stifel maintained their bullish recommendations. Truist Securities highlighted the World Cup as a particularly significant opportunity for future growth. Meanwhile, Bernstein increased its price target to $31, citing both the EBITDA beat achieved in the quarter and the noted increase in online sports betting volumes. A separate adjustment was made by Guggenheim, which lowered its prior price target to $35 while also revising the 2026 revenue estimate up to $6.86 billion, alongside an adjusted EBITDA projection of $786 million.
In terms of core profitability metrics, DraftKings' core EBITDA surpassed the $200 million mark when specific regional spending was excluded from the calculation. The company has also taken steps to expand its platform reach by introducing new Spanish functionality, a feature expected to support continued growth in international markets. These varied developments collectively reflect ongoing analyst confidence regarding DraftKings' underlying business performance and its potential for future expansion.
Risks
- Minor deceleration noted in iCasino net gaming revenue
- Stock is down 25% year-to-date, despite perceived undervaluation by some analysts
More from Insider Trading
Risks
- Minor deceleration noted in iCasino net gaming revenue
- Stock is down 25% year-to-date, despite perceived undervaluation by some analysts