Insider Buying Amid a Rough Quarter: What Harry Sloan’s Purchase Means for DraftKings
DraftKings’ stock closed 11.9 % lower on February 16, 2026, at $22.59, the lowest point since early‑February. Against that backdrop, Harry Sloan—a relatively quiet insider—added 100,000 Class A shares on February 17, paying a weighted average of $21.85 per share. Sloan’s trade is the largest single purchase by an insider in the last week, eclipsing the 51‑share buys seen from other executives such as Gregory Westin and Walden Marni. While the absolute volume is modest compared with DraftKings’ total shares outstanding, the timing and price suggest a deliberate signal of confidence that is noteworthy for a company currently under pressure from analysts and a narrowing sportsbook market.
Implications for Investors and the Company’s Outlook
Sloan’s purchase comes as analysts trim target prices and the company’s 2026 guidance falls short of consensus. The buy, executed near the 52‑week low ($21.01), may indicate that insiders still believe the stock is undervalued relative to the firm’s long‑term upside. For investors, it offers a contrarian cue: insiders are willing to acquire shares even when the market is bearish. However, the trade’s size relative to the firm’s $10.7 billion market cap is small, so it is unlikely to move the market on its own. The real test will be whether subsequent insider activity—especially from higher‑ranking directors—continues to support the stock’s recovery.
Harry Sloan: A Pattern of Opportunistic Buying
Sloan’s transaction history shows a pattern of small, frequent purchases, often coupled with short‑term restricted‑stock‑unit (RSU) transactions that balance out his cash‑based buys. Over the last six months, Sloan has bought roughly 125,000 shares, with a few sales that net zero exposure. His average purchase price has hovered around $30 in late 2025 and dropped to the low‑$20s in early 2026, matching the company’s declining valuation. Unlike some insiders who use RSUs to lock in future gains, Sloan’s trades suggest he is actively managing his equity exposure, perhaps to capture a rebound when the market stabilizes.
A Broader Insider Landscape
While Sloan’s buy is the most conspicuous, other insiders have been more cautious. Gregory Westin and Walden Marni added 345 and 691 shares, respectively, but the bulk of insider activity on February 10 consisted of modest purchases by executives such as Ryan Moore, Steven Murray, and Jason Robins. The combined buying volume from senior management is still under 1 % of the company’s shares outstanding, indicating limited conviction at the top. In contrast, the recent surge in social media buzz (699 % above average) and a sentiment score of +97 suggest that public perception of DraftKings remains highly volatile. If insiders maintain their buying streak while the market sentiment swings, investors may find a window to reassess the stock’s valuation.
Bottom Line
Harry Sloan’s purchase is a quiet but potentially meaningful indicator that insiders see upside potential in a company beleaguered by declining guidance and heightened competition. For investors, it is a reminder that insider activity can sometimes signal a shift in sentiment ahead of market recognition. The next few months will be telling: if insiders continue to buy, especially from higher‑ranking directors, it could help anchor a recovery. If the buying stalls, the stock may remain tethered to its current low‑point as analysts and competitors push on DraftKings’ valuation.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-02-17 | SLOAN HARRY () | Buy | 100,000.00 | 21.85 | Class A Common Stock |
