Exploring Sportradar Group AG (SRAD) Investor Profile: Who’s Buying and Why?

You've watched Sportradar Group AG (SRAD) stock climb nearly 39% between late 2024 and November 2025, and you're defintely wondering which institutional heavyweights are driving that momentum-and why they're buying now. The simple truth is that big money is betting on the sports data market's structural growth, especially as the company just raised its fiscal 2025 outlook to at least €1,290 million in revenue and €290 million in Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization). Here's the quick math: that EBITDA target represents a 30% jump year-over-year, which is a signal institutional buyers cannot ignore. So, who are the key players putting their capital to work in this space, and what specific strategic moves-like the acquisition of IMG ARENA and the €300 million share repurchase program-are attracting the likes of the Canada Pension Plan Investment Board, which holds over 68.17 million shares valued at approximately $1.55 billion? We'll map out the entire investor landscape, from the 350 total institutional owners to the hedge funds that increased their positions by over 2,000% this year, to help you decide if their rationale aligns with your own.

Who Invests in Sportradar Group AG (SRAD) and Why?

If you're looking at Sportradar Group AG (SRAD), you're essentially asking who is betting on the future of sports data and the global betting market. The answer is a mix of patient, long-term capital and aggressive, growth-focused funds, all drawn by the company's strong 2025 financial momentum and its mission-critical role in the industry.

The investor profile is heavily skewed toward professional money, but the retail component is defintely a factor in daily trading volume. This stock is not a sleepy utility; it is a high-growth technology play, and its ownership structure reflects that.

Key Investor Types: The Ownership Breakdown

The ownership structure of Sportradar Group AG is dominated by institutional investors, which is typical for a high-growth technology company on a major US exchange. As of the most recent data, institutional ownership stands at nearly two-thirds of the outstanding shares.

Specifically, institutional investors hold approximately 64.93% of the company's stock, giving them significant influence over the share price and corporate governance. This group includes massive entities like the Canada Pension Plan Investment Board, which held a substantial stake of 22.80% as of June 2025, signaling a long-horizon, stability-seeking investment.

Here's the quick math on the key shareholder groups:

• Institutional Investors: ~64.93% of shares.
• Insider Ownership: ~32%, largely held by CEO Carsten Koerl, which aligns management's interests directly with shareholder returns.
• General Public (Retail): ~10%, a segment that provides liquidity and often reacts quickly to quarterly earnings news.

The remaining ownership is held by private equity and other strategic investors, such as TCMI Inc., which held about 9.77% as of September 2025. This composition means the stock price is primarily driven by the quarterly decisions and long-term conviction of large funds, not day-to-day retail sentiment.

Investment Motivations: Betting on Data Growth

Investors are attracted to Sportradar Group AG for three clear reasons: explosive growth in a nascent market, expanding profitability, and a disciplined approach to capital return. This isn't a value stock; it's a growth story with improving unit economics.

First, the top-line growth is compelling. The company raised its full-year 2025 guidance, now anticipating revenue of at least €1,290 million, representing year-over-year growth of at least 17%. The U.S. market is a key driver, with U.S. revenue increasing by 21% year-over-year, contributing 23% to total revenue. Second, profitability is accelerating faster than revenue, which is a green flag for professional investors. In Q3 2025, Adjusted EBITDA saw a significant 29% year-over-year increase to €85 million, with the Adjusted EBITDA margin expanding to a record 29.0%. This shows excellent operating leverage.

Finally, the company's strong cash flow and capital allocation are appealing. Sportradar generated €149 million in free cash flow year-to-date, and management increased its share repurchase program to a total authorization of $300 million, signaling confidence and a commitment to boosting Earnings Per Share (EPS) through a lower share count. You can read more about the company's core principles in their Mission Statement, Vision, & Core Values of Sportradar Group AG (SRAD).

Investment Strategies: Long-Term Growth vs. Active Trading

The strategies employed by SRAD investors fall into two main buckets: patient, long-term growth and high-conviction, active trading. The stock's high Beta of 2.17 suggests significant price fluctuations relative to the overall market, making it attractive to active players.

Long-Term Holding (Institutional and Pension Funds):

Large mutual funds and pension funds, like the Canada Pension Plan Investment Board, are primarily using a long-term growth strategy. They are focused on the company's ability to maintain a Customer Net Retention Rate of 114% and its dominant position as a provider of B2B solutions to the sports betting industry. Their investment thesis centers on the sustained global demand for premium sports data and the durability of Sportradar's exclusive data rights.

Active and Growth Investing (Hedge Funds and Retail):

Hedge funds, including the seven institutional owners identified as long/short, and the retail segment, often employ more active strategies. They are playing the volatility inherent in a growth stock that sometimes misses analyst estimates, such as the Q3 2025 non-GAAP EPS of €0.07 falling short of the projected €0.09. This creates short-term buying opportunities for those who believe the long-term growth trajectory outweighs the quarterly noise. They are essentially trading the gap between strong revenue growth and temporary margin pressures from increased sport rights costs.

The immediate action for any investor is to watch the margin expansion; if the Adjusted EBITDA margin continues its upward trend, the long-term growth thesis gets much stronger.

Institutional Ownership and Major Shareholders of Sportradar Group AG (SRAD)

You're looking at Sportradar Group AG (SRAD) and trying to figure out who the big players are and what their recent moves mean for the stock. The direct takeaway is that institutional investors hold a substantial and influential stake, representing a significant vote of confidence, but also a concentration of power that must be watched.

As of the end of the third fiscal quarter of 2025 (September 30, 2025), institutional ownership in Sportradar Group AG stands at approximately 64.93% of the company, showing strong interest from large-scale, professional money managers. The total value of these institutional holdings is massive, sitting around $4.381 billion. This level of ownership means that the company's strategy and stock performance are heavily influenced by the decisions of a few major entities.

Top Institutional Investors: Who Holds the Keys?

The shareholder structure is heavily skewed toward a few anchor investors. What this estimate hides is that the top shareholders often have a long-term view, which can stabilize the stock, but their sheer size can also amplify price movements on a major sale. Here's the quick math: the top two shareholders alone account for about 58% of the company's ownership. The largest institutional holders, based on the latest filings for the 2025 fiscal year, are led by major pension and private equity funds.

The table below shows the largest institutional investors and their reported shareholdings as of the Q3 2025 filing dates:

Note: Ownership percentages vary slightly based on the total shares outstanding used in different reports, but the rank order is consistent. The CEO, Carsten Koerl, also holds a substantial insider stake of around 31% of the shares outstanding, which further concentrates control.

Changes in Ownership: Tracking Recent Investor Sentiment

In the near-term, we've seen a mixed but generally positive trend in institutional accumulation, which is a good sign. Institutional investors bought a total of over 44 million shares in the 24 months leading up to the end of Q3 2025, representing approximately $1.05 billion in transactions. This signals that many major funds are still building their positions in the sports data and betting technology space.

Looking specifically at the most recent Q3 2025 filings, there are some defintely notable moves:

• Bank of America Corp DE lifted its position dramatically in Q3 2025, buying an additional 1,436,263 shares, which represents a massive 491.6% increase in their stake for the quarter.
• Fmr Llc (Fidelity) also increased its holdings by over 2.1 million shares in the quarter ending September 30, 2025, showing strong conviction.
• On the other side, some investors have been trimming their positions. For example, Janus Henderson Group Plc decreased its shares by over 879,000, a reduction of about 16.65% in the same period.

Still, the overall sentiment, as measured by institutional accumulation models, suggests a high level of interest and accumulation relative to peers, meaning the buyers are currently outweighing the sellers among the big funds. You want to see institutions buying when the stock is performing well, and Sportradar's stock has increased by 38.88% over the year leading up to November 2025.

Impact of Institutional Investors on SRAD's Strategy and Stock

The role of these large investors is crucial. Their substantial holdings give them a significant influence over Sportradar Group AG's stock price and long-term strategic direction. When institutions like Canada Pension Plan Investment Board or Technology Crossover Management IX, Ltd. hold such large blocks, they act as powerful stakeholders.

This concentrated ownership can lead to:

• Stock Price Stability: Large, long-term holders like pension funds are less likely to trade frequently, which can reduce day-to-day volatility.
• Strategic Alignment: Their influence ensures management remains focused on maximizing shareholder value, often through capital allocation decisions. For example, the company recently increased its share repurchase program by $100 million, bringing the total authorization to $300 million, a move that directly benefits shareholders and is often pushed by institutional owners.
• Market Credibility: The presence of top-tier institutions validates the company's business model-providing sports data and B2B solutions to the sports betting industry-suggesting credibility among professional investors.

The company's strong financial performance in 2025, including Q3 revenue of €292 million and a raised full-year outlook of at least €1,290 million in revenue, is what keeps these big investors engaged and buying. This performance, plus the strategic acquisition of IMG ARENA, reinforces the investment thesis for a global sports technology leader. To be fair, the concentration of ownership also means that any coordinated selling could cause a sharp drop, so watching 13F filings for major sales is always a clear action.

For a deeper dive into the company's long-term goals, you should review the Mission Statement, Vision, & Core Values of Sportradar Group AG (SRAD).

Next Step: Portfolio Manager: Monitor the next round of 13F filings (Q4 2025, due early 2026) for any significant net selling from the top five holders to gauge sentiment shift.

Key Investors and Their Impact on Sportradar Group AG (SRAD)

You need to know who is really calling the shots at Sportradar Group AG (SRAD) because their capital commitment drives the stock's stability and long-term strategy. The takeaway here is that SRAD is overwhelmingly controlled by large financial institutions, which means their focus is on sustained growth and capital efficiency, not quick speculative pops.

Institutional ownership-money managed by funds, pensions, and endowments-stands at a high 64.93%. This level of backing is defintely a double-edged sword: it provides a strong floor for the stock, but it also means the company's strategic decisions are constantly scrutinized against metrics like Adjusted EBITDA and revenue growth. This is not a retail-driven stock; it's a fund manager favorite.

The Anchor Investors: Who Holds the Largest Stakes

The investor profile for Sportradar Group AG is dominated by a few massive, long-term players. The biggest anchor is the Canada Pension Plan Investment Board, which held a substantial 22.80% stake, or 68,171,745 shares, as of the second quarter of 2025. That's a powerful, patient capital base that signals confidence in the long-term sports data and betting market growth story.

Another major holder is Technology Crossover Management IX, Ltd. (TCMI Inc.), with a 9.77% stake, or 29,203,147 shares, reported in Q3 2025. These investors aren't day traders; they are looking for a return on investment (ROI) over a five-to-ten-year horizon. Their presence focuses management on securing those long-term, exclusive sports data rights.

Here's a snapshot of the top institutional holders and their recent activity:

Recent Capital Moves and Management's Response

The most telling moves in 2025 show that major funds are still building positions, reinforcing the growth narrative. For example, Invesco Ltd. dramatically increased its position by over 536% in the second quarter, acquiring shares valued at $83,477,000. That's a clear vote of confidence in the company's ability to execute on its strategy, especially in the US market, which saw revenue rise 21% year-over-year.

Management is also actively managing capital to satisfy these large investors. Sportradar Group AG completed a share repurchase program, buying back 4.8 million shares for a total of €85.8 million as of September 30, 2025. Plus, they recently announced an increase in the buyback program to $300 million. This is a direct signal to the market that the company believes its stock is undervalued and is committed to boosting earnings per share (EPS) for shareholders.

Investor Influence: The Risk/Reward Mapping

The influence of these large investors is less about activism and more about setting a high bar for financial performance. They demand precision. When the company raised its fiscal year 2025 guidance to at least €1,290 million in revenue and at least €284 million in Adjusted EBITDA, that move was directly aimed at validating the institutional investment thesis. The market rewards this clarity.

But still, the stock is highly sensitive to negative news, which is a key risk. In November 2025, a critical report from a short-seller, The Bear Cave, alleging issues with Sportradar's business practices and competitive moat, caused the stock price to drop by approximately 5% to 6.41% in a single day. This shows that the high institutional ownership doesn't make the stock immune to sentiment; it just means the institutional selling can be swift and impactful. You must monitor the Mission Statement, Vision, & Core Values of Sportradar Group AG (SRAD) to understand the core business integrity that investors are scrutinizing.

• Monitor institutional buying/selling for shifts in sentiment.
• Watch for new exclusive data rights deals; they validate the long-term thesis.
• Expect continued pressure on management to meet or beat the €284 million Adjusted EBITDA guidance.

Market Impact and Investor Sentiment

You're looking for a clear signal on Sportradar Group AG (SRAD), and honestly, the market is giving us a mixed picture right now. The consensus from Wall Street analysts is a 'Moderate Buy,' but the stock's recent price action and technical indicators suggest a short-term bearish sentiment you need to watch. The key takeaway is that institutional conviction remains strong, with 64.93% of the company's shares held by institutions, but the market is punishing any earnings miss, even when revenue beats estimates.

Major shareholders are generally positive, viewing Sportradar Group AG as a long-term play on the expanding US online sports betting (OSB) and iGaming markets. This bullishness is grounded in the company's large and diversified portfolio of sports data rights. To understand the long-term vision that drives these large investors, you should look at the company's foundation: Mission Statement, Vision, & Core Values of Sportradar Group AG (SRAD).

Recent Market Reactions to Mixed Signals

The stock market has been defintely reactive to the company's mixed Q3 2025 results, which were reported on November 5, 2025. While Sportradar Group AG's revenue came in strong at €292.1 million, a 14% year-over-year increase, the market focused on the earnings per share (EPS) miss. The non-GAAP EPS of €0.07 fell short of the analyst consensus of €0.09 per share.

This earnings shortfall led to a negative pre-market price movement, and the stock was trading down roughly 5% mid-day on November 21, 2025, near $20.62 per share. This is a classic example of a 'sell-the-news' event where a minor disappointment in profitability overshadows solid top-line growth. The stock's volatility is high, with a beta of 2.17, meaning it moves significantly more than the overall market.

• Q3 2025 Revenue: €292.1 million (Beat estimates).
• Q3 2025 EPS: €0.07 (Missed estimates).
• Institutional Ownership: 64.93% (High conviction).
• Share Buyback: Increased to $300 million (Signaling management confidence).

Analyst Perspectives and Price Targets

The analyst community's perspective is overwhelmingly positive, with a consensus rating of 'Moderate Buy' across 21 Wall Street analysts. The average twelve-month price target stands at $31.78, suggesting a potential upside of over 50% from the recent trading price. The highest price target is a bullish $40.00.

Here's the quick math: The average target implies a significant return, but you must factor in the current market skepticism around competition and valuation. The recent upgrades show conviction, with JPMorgan Chase & Co. raising their target to $35.00 and Wells Fargo initiating coverage with a 'Strong-Buy' and a $30.00 target in November 2025.

The positive outlook is largely driven by the company's raised full-year 2025 guidance, which projects revenue of at least €1.29 billion (a growth of at least 17%) and Adjusted EBITDA of at least €290 million (a growth of at least 30%). The acquisition of IMG ARENA is also expected to be accretive to margins and cash flow, which is a big plus for the growth narrative.

What this estimate hides is the risk of increasing competition and concerns about operational integrity, which some analysts have cited as a headwind. You need to weigh the strong financial forecasts against these structural risks.

The table below shows the top institutional holders as of the latest filings, demonstrating the scale of conviction from major financial players.

Note: Share values are based on the reported filing dates and may vary from current market prices.

The institutional interest is clear: Captrust Financial Advisors, for instance, increased its stake by 137.4% in the latest reporting period, adding over 323,655 shares. This kind of aggressive buying from major funds suggests they believe the current price does not reflect the projected €1.29 billion in 2025 revenue and the long-term growth in the sports data space.