Daktronics, Inc. (NASDAQ:DAKT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,413 shares of the technology company’s stock after purchasing an additional 1,765 shares during the period. Principal Financial Group Inc.’s holdings in Daktronics were worth $378,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Daktronics during the third quarter valued at $427,000. FMR LLC increased its holdings in shares of Daktronics by 5,451.9% during the third quarter. FMR LLC now owns 48,690 shares of the technology company’s stock valued at $629,000 after purchasing an additional 47,813 shares during the period. Barclays PLC grew its holdings in Daktronics by 348.2% during the third quarter. Barclays PLC now owns 58,388 shares of the technology company’s stock worth $754,000 after acquiring an additional 45,360 shares during the period. Foundry Partners LLC acquired a new position in Daktronics during the third quarter worth about $4,101,000. Finally, PEAK6 Investments LLC grew its holdings in 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. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the sale, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Craig Hallum started coverage on Daktronics in a report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 target price on the stock.

Daktronics Trading Down 0.5 %

Shares of DAKT opened at $12.70 on Friday. The business’s 50-day moving average price is $16.19 and its 200 day moving average price is $15.07. The stock has a market capitalization of $598.06 million, a P/E ratio of 50.80, a P/E/G ratio of 0.57 and a beta of 1.12. Daktronics, Inc. has a 1-year low of $8.62 and a 1-year high of $19.89. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. Analysts expect that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Daktronics Company 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.