State Street Corp Sells 13,116 Shares of Daktronics, Inc. (NASDAQ:DAKT)

State Street Corp lowered its position in Daktronics, Inc. (NASDAQ:DAKT) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 929,762 shares of the technology company’s stock after selling 13,116 shares during the period. State Street Corp owned about 2.01% of Daktronics worth $12,003,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DAKT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Daktronics in the third quarter worth about $427,000. FMR LLC lifted its stake in Daktronics by 5,451.9% in the third quarter. FMR LLC now owns 48,690 shares of the technology company’s stock valued at $629,000 after buying an additional 47,813 shares in the last quarter. Foundry Partners LLC bought a new position in Daktronics in the third quarter valued at approximately $4,101,000. Progeny 3 Inc. increased its position in shares of Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after acquiring an additional 1,047,156 shares in the last quarter. Finally, PEAK6 Investments LLC raised its holdings in shares of Daktronics by 269.9% during the third quarter. PEAK6 Investments LLC now owns 42,073 shares of the technology company’s stock worth $543,000 after acquiring an additional 30,699 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total transaction of $150,900.00. Following the transaction, the chief executive officer now directly owns 469,727 shares of the company’s stock, valued at approximately $8,807,381.25. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This represents a 22.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,692 shares of company stock valued at $718,435. 8.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DAKT. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Daktronics Stock Performance

Shares of NASDAQ DAKT opened at $17.30 on Thursday. The stock has a market capitalization of $812.86 million, a PE ratio of 69.20, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. Daktronics, Inc. has a 52 week low of $7.20 and a 52 week high of $19.89. The stock has a 50 day moving average price of $15.42 and a 200 day moving average price of $14.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35.

About Daktronics

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.