DraftKings Inc. (NASDAQ: DKNG) director Harry Sloan acquired 100,000 shares of the company’s Class A common stock on February 17, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The shares were purchased at a weighted average price ranging from $21.76 to $22.00, with the filing showing a total transaction value of $2.18 million.
Following the purchase, Sloan directly holds 350,219 shares of DraftKings. The insider transaction was also described elsewhere as a significant purchase of 100,000 shares for approximately $2.19 million, reflecting the same underlying share count and price band disclosed in the SEC filing.
The insider buying occurred in the context of analyst reassessments after DraftKings released fourth-quarter results. While the company posted earnings that beat expectations, its guidance for the upcoming year prompted caution among some firms.
Several brokerages adjusted their price targets in the weeks after the earnings release:
- Truist Securities lowered its price target to $33 but kept a Buy rating, citing the company’s soft guidance despite the earnings beat.
- TD Cowen moved its price target to $30, attributing the change to costs tied to prediction market expansion that do not yet show immediate benefits.
- Bernstein SocGen Group reduced its target to $28, pointing to concerns about growth visibility and the need for clearer information on returns.
- Stifel cut its price target to $40, highlighting a slowdown in net gaming revenue growth and elevated promotional spend as areas of concern.
Taken together, the insider purchase and the analyst revisions present a mixed picture: an executive-level acquisition of shares alongside professional investors re-evaluating near-term outlook and profitability drivers. The SEC filing provides the definitive record of Sloan’s transaction and his post-trade ownership stake.
Plain-language summary - DraftKings director Harry Sloan bought 100,000 Class A shares on February 17, 2026, at a weighted average price between $21.76 and $22.00, totaling $2.18 million per the Form 4 filing; Sloan now directly owns 350,219 shares. Multiple analysts trimmed price targets after DraftKings’ fourth-quarter report, citing soft guidance, expansion costs for prediction markets, growth visibility concerns, slower net gaming revenue growth, and higher promotional costs.