Allspring Global Investments Holdings LLC Sells 14,693 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Allspring Global Investments Holdings LLC decreased its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 49.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,057 shares of the technology company’s stock after selling 14,693 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Daktronics were worth $254,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Daktronics during the third quarter valued at about $427,000. FMR LLC increased its position in Daktronics by 5,451.9% in the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company’s stock worth $629,000 after buying an additional 47,813 shares during the period. Barclays PLC lifted its holdings in shares of 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 buying an additional 45,360 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Daktronics in the third quarter valued at approximately $4,101,000. Finally, PEAK6 Investments LLC grew its stake in shares of Daktronics by 269.9% in 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 last quarter. 61.69% of the stock is owned by institutional investors.

Daktronics Price Performance

Shares of DAKT stock opened at $15.44 on Wednesday. Daktronics, Inc. has a 12 month low of $7.38 and a 12 month high of $19.89. The company has a market capitalization of $727.09 million, a P/E ratio of 61.76, a P/E/G ratio of 0.57 and a beta of 1.16. The stock has a 50 day moving average of $16.57 and a two-hundred day moving average of $15.11. 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 earnings results on Wednesday, December 4th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. As a group, equities analysts expect that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

Separately, Craig Hallum began coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price target on the stock.

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.