To the Moon? What is going on with DKNG?

This afternoon we watched DraftKings rise 2.7% to a price of $25.63 per share. The mid-cap Leisure company is now trading -10.28% below its average target price of $28.57. Analysts have set target prices ranging from $17.0 to $39.0 per share for DraftKings, and have given the stock an average rating of buy.

DraftKings has an average level of shares sold short, at 5.8% of its total share float. The stock's short ratio (also called days to cover) is 1.82. The company's insiders own 5.37% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Institutional investors own 56.1% of DraftKings's shares, which indicates they have a high level of confidence in the company.

Institutions Invested in DraftKings

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 8% 36,028,161 $923,524,260
2023-03-31 ARK Investment Management, LLC 5% 23,931,255 $613,439,431
2023-03-31 Capital Research Global Investors 4% 18,079,439 $463,437,491
2023-03-31 Blackrock Inc. 3% 15,477,062 $396,729,720
2023-03-31 Sumitomo Mitsui Trust Holdings, Inc. 3% 13,163,238 $337,418,544
2023-03-31 Nikko Asset Management Americas, Inc. 3% 13,163,238 $337,418,544
2023-03-31 Raine Capital Llc 2% 8,413,509 $215,666,841
2023-03-31 Wellington Management Group, LLP 2% 8,256,405 $211,639,731
2023-03-31 Redpoint Management, Llc 1% 6,818,618 $174,784,362
2023-03-31 Atlas Venture Advisors, Inc. 1% 6,555,608 $168,042,521
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.