Allspring Global Investments Holdings LLC Cuts Position in Daktronics, Inc. (NASDAQ:DAKT)

Allspring Global Investments Holdings LLC lessened its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 54.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,750 shares of the technology company’s stock after selling 35,900 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Daktronics worth $384,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DAKT. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares during the last quarter. CWM LLC lifted its stake in shares of Daktronics by 31.4% in the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after purchasing an additional 872 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Daktronics by 150.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,400 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Daktronics in the 1st quarter valued at approximately $105,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Daktronics in the 1st quarter valued at approximately $109,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Insider Activity at Daktronics

In related news, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares in the company, valued at $33,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares in the company, valued at $33,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DAKT. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Price Performance

DAKT opened at $12.99 on Friday. The business has a fifty day moving average of $13.10 and a 200 day moving average of $12.61. Daktronics, Inc. has a 52-week low of $7.20 and a 52-week high of $15.97. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The stock has a market cap of $601.98 million, a P/E ratio of 162.38, a PEG ratio of 0.49 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The company had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. As a group, sell-side analysts anticipate that Daktronics, Inc. will post 0.89 EPS for the current year.

Daktronics Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.