This afternoon we watched DraftKings rise 8.0% to a price of $42.03 per share. The Large-Cap Leisure company is now trading -19.48% below its average target price of $52.2. Analysts have set target prices ranging from $35.0 to $89.0 per share for DraftKings, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 3.6%, and a short ratio of 1.71. The company's insiders own 2.5% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 72.4% of DraftKings's shares being owned by this investor type.
Institutions Invested in DraftKings
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 8% | 40,011,855 | $1,681,698,216 |
| 2024-03-31 | Wellington Management Group, LLP | 5% | 23,127,125 | $972,033,035 |
| 2024-03-31 | Blackrock Inc. | 4% | 21,331,517 | $896,563,633 |
| 2024-03-31 | ARK Investment Management, LLC | 2% | 8,714,379 | $366,265,338 |
| 2024-03-31 | State Street Corporation | 2% | 8,702,434 | $365,763,290 |
| 2024-03-31 | Sumitomo Mitsui Trust Holdings, Inc. | 2% | 7,660,563 | $321,973,453 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 7,329,741 | $308,069,005 |
| 2024-03-31 | Morgan Stanley | 1% | 7,110,845 | $298,868,806 |
| 2024-03-31 | Invesco Ltd. | 1% | 6,975,735 | $293,190,133 |
| 2024-03-31 | Nikko Asset Management Americas, Inc. | 1% | 6,735,515 | $283,093,687 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on DraftKings.
