DraftKings stock is trading -37.13% below its average target price of $50.93 after dropping -9.8% during today's morning session. Analysts are giving the Large-Cap Leisure company an average rating of buy and target prices ranging from $25.0 to $89.0 per share.
The stock has an average amount of shares sold short at 4.3%, and a short ratio of 2.07. The company's insiders own 2.39% 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 72.0% 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 | $1,281,179,615 |
| 2024-03-31 | Wellington Management Group, LLP | 5% | 23,127,125 | $740,530,553 |
| 2024-03-31 | Blackrock Inc. | 4% | 21,331,517 | $683,035,184 |
| 2024-03-31 | State Street Corporation | 2% | 8,702,434 | $278,651,940 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 7,329,741 | $234,698,310 |
| 2024-03-31 | Morgan Stanley | 1% | 7,110,845 | $227,689,260 |
| 2024-03-31 | Invesco Ltd. | 1% | 6,975,735 | $223,363,037 |
| 2024-03-31 | Nikko Asset Management Americas, Inc. | 1% | 6,735,515 | $215,671,193 |
| 2024-06-30 | Sumitomo Mitsui Trust Holdings, Inc. | 1% | 6,759,587 | $216,441,978 |
| 2024-03-31 | Nuveen Asset Management, LLC | 1% | 6,706,353 | $214,737,426 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on DraftKings.
