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

Allspring Global Investments Holdings LLC lessened its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 49.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,057 shares of the technology company’s stock after selling 14,693 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Daktronics were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Atria Investments Inc bought a new position in shares of Daktronics during the 3rd quarter worth approximately $171,000. Versor Investments LP bought a new stake in shares of Daktronics during the 3rd quarter worth about $281,000. GSA Capital Partners LLP acquired a new position in Daktronics in the 3rd quarter valued at about $436,000. Victory Capital Management Inc. raised its holdings in Daktronics by 31.6% in the 3rd quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company’s stock valued at $2,476,000 after acquiring an additional 46,104 shares during the period. Finally, Empowered Funds LLC lifted its position in Daktronics by 5.4% during the third quarter. Empowered Funds LLC now owns 226,070 shares of the technology company’s stock worth $2,919,000 after acquiring an additional 11,524 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 in the company, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the transaction, the director now owns 87,573 shares in the company, valued at approximately $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. Insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum started coverage on shares of Daktronics in a report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price objective for the company.

Daktronics Stock Performance

Shares of Daktronics stock opened at $15.44 on Wednesday. Daktronics, Inc. has a 1-year low of $7.38 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. The business has a 50-day moving average price of $16.57 and a two-hundred day moving average price of $15.11. The company has a market cap of $727.09 million, a P/E ratio of 61.76, a PEG ratio of 0.57 and a beta of 1.16.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. As a group, analysts anticipate that Daktronics, Inc. will post 0.96 EPS 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.