DraftKings Inc. (NASDAQ:DKNG) saw a small uptick in premarket trading on Wednesday, gaining 1.7% after the company disclosed an insider purchase by one of its directors.
A securities filing shows that director Harry Sloan purchased 100,000 shares of Class A common stock on February 17, 2026, at a price of $21.85 per share. The transaction totaled approximately $2.19 million. Following the acquisition, Sloan's aggregate holding in the company stands at 350,219 shares.
Insider purchases such as Sloan's are frequently interpreted by investors as a vote of confidence from individuals with close knowledge of company operations. Market participants often view such transactions as a positive signal because they may indicate that insiders are willing to increase their exposure to the company.
While the disclosure of the purchase coincided with a 1.7% rise in the stock during premarket sessions, the filing itself provides the primary factual detail: the number of shares bought, the per-share price, the total amount paid, the transaction date, and the updated total of shares held by the director.
Below are the core facts disclosed in the filing and reflected in market reaction:
- Transaction: Purchase of 100,000 Class A common shares.
- Price and value: $21.85 per share, approximately $2.19 million total.
- Date: February 17, 2026.
- Post-transaction holdings: 350,219 shares owned by Harry Sloan.
- Market movement: DKNG rose 1.7% in premarket trading on the day of the disclosure.
The filing supplies the factual record; it does not provide commentary from the director or the company about the motivation behind the purchase. Observers typically note that insider buying can be meaningful to investors, but the filing itself limits the public information to the transaction details and the updated share total.
For investors and analysts, the announcement adds to the set of publicly available insider transactions for the company, but it does not include any further operational, strategic, or forward-looking statements from the company or the insider.