Doesn't come as a surprise to me. Take a look at WWE, WING, SHAK, CVNA, W, SEAS, and RRGB, to name a few, and look at there price performance over the last year. Institutional ownership 100-125%, and have been that way for a number of months. Most of us wouldn't go near these companies. The same prominent names keep popping up as institutional investors. Fidelity, Vangaurd, JPMorgan, Blackrock, and Morgan Stanley. It would seem as though in order to maintain a proportionally diversified portfolio, institutions are forced to park assets in companies no matter what the nosebleed valuation.