Draftkings: chief legal officer Dodge sells $4.59m in shares

DraftKings Inc. (NASDAQ:DKNG) Chief Legal Officer Dodge R Stanton, has sold 105,554 shares of Class A Common Stock for $4,594,765, according to a Form 4 filing with the Securities and Exchange Commission. The sales, which occurred on July 18, 2025, were executed at a weighted average price of $43.53, with individual sales prices ranging from $43.28 to $44.02. The stock, currently trading at $44.59, has shown strong momentum with a nearly 20% gain year-to-date, according to InvestingPro data.

On the same day, Stanton also exercised options to acquire a total of 100,719 shares of DraftKings’ Class A Common Stock. These transactions involved 76,467 shares at an exercise price of $4.70 and 24,252 shares at an exercise price of $3.29, for a total value of $439,183. With the company’s earnings report due on August 1st and analysts maintaining a bullish outlook, investors can access comprehensive analysis and 12 additional key insights through InvestingPro’s detailed research reports.

The reported sale was made pursuant to a pre-arranged program for selling shares of Class A Common Stock adopted on December 13, 2024 pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934.

In other recent news, DraftKings Inc. has been the focus of several analyst updates and strategic developments. BofA Securities raised its price target on DraftKings to $50, expecting the company to exceed second-quarter earnings estimates due to favorable sports betting margins. The bank has increased its Q2 revenue estimate to $1.50 billion, surpassing the consensus estimate of $1.41 billion. Mizuho (NYSE:MFG) reiterated an Outperform rating on DraftKings, highlighting the company’s market share gains in New York and its growth outpacing the overall market. Additionally, Benchmark increased its price target for DraftKings to $50, driven by reports of acquisition talks with Railbird Exchange, a prediction market platform. Citi also reiterated a Buy rating with a $58 price target, following Flutter Entertainment’s announcement that it will acquire Boyd Gaming (NYSE:BYD)’s 5% equity interest in FanDuel. Flutter Entertainment itself saw a price target increase from Needham to $340, maintaining a Buy rating. Needham adjusted its 2025 estimates for Flutter due to higher state taxes but noted favorable sports outcomes in recent months. These developments reflect ongoing strategic moves and analyst confidence in both DraftKings and Flutter Entertainment.

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