Fmr LLC Acquires 47,813 Shares of Daktronics, Inc. (NASDAQ:DAKT)

FMR LLC boosted its position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 5,451.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,690 shares of the technology company's stock after purchasing an additional 47,813 shares during the period. FMR LLC owned 0.11% of Daktronics worth $629,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DAKT. Northwestern Mutual Wealth Management Co. increased its holdings 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 period. CWM LLC increased its stake in 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 buying an additional 872 shares during the period. Atria Investments Inc purchased a new stake in Daktronics in the 3rd quarter worth approximately $171,000. SG Americas Securities LLC acquired a new stake in shares of Daktronics during the 3rd quarter valued at $188,000. Finally, Versor Investments LP purchased a new position in shares of Daktronics during the 3rd quarter valued at $281,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DAKT shares. StockNews.com upgraded Daktronics from a "hold" rating to a "buy" rating in a report on Monday, October 14th. Singular Research upgraded Daktronics to a "strong-buy" rating in a report on Monday, September 9th.

Insiders Place Their Bets

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

Daktronics Stock Down 0.6 %

Shares of Daktronics stock traded down $0.11 during midday trading on Thursday, reaching $16.94. 470,204 shares of the company's stock traded hands, compared to its average volume of 510,397. The company has a market cap of $795.94 million, a price-to-earnings ratio of 67.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. The company's 50 day simple moving average is $15.15 and its 200 day simple moving average is $13.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics, Inc. has a 52 week low of $7.20 and a 52 week high of $19.89.

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.