Insider Selling: Daktronics (NASDAQ:DAKT) Director Sells 13,479 Shares of Stock

Key Points

• John Patrick Friel, a director at Daktronics, sold 13,479 shares of the company's stock for approximately $317,834.82, reducing his ownership by 15.39%.
• Following the transaction, Daktronics stock is currently down 2.0% and trades at $23.55, with a market capitalization of $1.14 billion.
• Analysts have upgraded Daktronics to a "strong-buy" rating, with a consensus target price of $26.00 according to recent reports.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) Director John Patrick Friel sold 13,479 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $23.58, for a total value of $317,834.82. Following the sale, the director directly owned 74,094 shares in the company, valued at $1,747,136.52. This trade represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Daktronics Price Performance

Shares of NASDAQ:DAKT traded down $0.60 during trading on Friday, hitting $22.14. 1,254,268 shares of the stock were exchanged, compared to its average volume of 516,429. The company has a fifty day moving average price of $17.72 and a two-hundred day moving average price of $15.12. The company has a market cap of $1.07 billion, a PE ratio of 36.90, a P/E/G ratio of 0.68 and a beta of 1.69. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. Daktronics, Inc. has a 12-month low of $10.24 and a 12-month high of $24.38.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $196.90 million. Daktronics had a return on equity of 14.64% and a net margin of 1.51%. On average, analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current year.

Institutional Trading of Daktronics

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company's stock worth $46,000 after buying an additional 2,045 shares during the last quarter. Quaker Wealth Management LLC boosted its position in Daktronics by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company's stock worth $57,000 after purchasing an additional 7,600 shares during the period. BNP Paribas Financial Markets boosted its position in Daktronics by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company's stock worth $59,000 after purchasing an additional 1,561 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Daktronics during the 2nd quarter worth $62,000. Finally, Farther Finance Advisors LLC purchased a new stake in Daktronics during the 2nd quarter worth $79,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DAKT shares. Zacks Research raised Daktronics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 11th. Wall Street Zen raised Daktronics from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Daktronics has an average rating of "Strong Buy" and an average target price of $26.00.

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.