Insider Selling: Daktronics (NASDAQ:DAKT) VP Sells 9,944 Shares of Stock

Key Points

• VP Carla Gatzke of Daktronics sold 9,944 shares of the company's stock at an average price of $23.09, totaling nearly $230,000, which reduced her ownership by 1.36%.
• Daktronics reported earnings of $0.33 EPS for the last quarter, surpassing estimates and achieving $218.97 million in revenue, exceeding expectations of $196.90 million.
• Many institutional investors have significantly increased their stakes in Daktronics recently, reflecting growing confidence in the company, with 61.69% of its stock now owned by these investors.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) VP Carla Gatzke sold 9,944 shares of Daktronics stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $23.09, for a total transaction of $229,606.96. Following the completion of the transaction, the vice president directly owned 721,036 shares of the company's stock, valued at approximately $16,648,721.24. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Daktronics Stock Performance

Shares of DAKT traded up $0.01 during midday trading on Thursday, hitting $22.74. 734,532 shares of the stock traded hands, compared to its average volume of 436,478. Daktronics, Inc. has a 1-year low of $10.24 and a 1-year high of $24.38. The firm has a market capitalization of $1.10 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 0.72 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 2.07. The business's 50 day moving average price is $17.47 and its two-hundred day moving average price is $14.99.

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

Institutional Investors Weigh In On Daktronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Daktronics by 204.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company's stock valued at $46,000 after purchasing an additional 2,045 shares in the last quarter. Quaker Wealth Management LLC raised its stake in shares of Daktronics by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company's stock valued at $57,000 after purchasing an additional 7,600 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Daktronics by 66.8% during the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company's stock valued at $59,000 after purchasing an additional 1,561 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Daktronics in the second quarter worth about $62,000. Finally, Farther Finance Advisors LLC acquired a new stake in Daktronics in the 2nd quarter valued at about $79,000. 61.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Daktronics from a "buy" rating to a "strong-buy" rating in a report on Sunday. Zacks Research raised shares of Daktronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Daktronics currently has a consensus rating of "Strong Buy" and a consensus price target 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.

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