Wells Fargo & Company MN Has $423,000 Position in Daktronics, Inc. (NASDAQ:DAKT)

Wells Fargo & Company MN decreased its holdings in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 43.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,118 shares of the technology company's stock after selling 19,565 shares during the period. Wells Fargo & Company MN owned about 0.05% of Daktronics worth $423,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new stake in Daktronics in the 4th quarter valued at $125,000. Knott David M Jr bought a new position in shares of Daktronics in the fourth quarter valued at about $132,000. Retirement Solution LLC acquired a new stake in shares of Daktronics during the 4th quarter worth about $169,000. Fox Run Management L.L.C. acquired a new stake in shares of Daktronics during the 4th quarter worth about $169,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Daktronics during the 4th quarter worth about $170,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Craig Hallum began coverage on Daktronics in a research note on Wednesday, January 22nd. They set a "buy" rating and a $26.00 target price on the stock.

Daktronics Stock Performance

Shares of Daktronics stock traded up $0.05 during trading on Wednesday, reaching $13.64. The company's stock had a trading volume of 214,399 shares, compared to its average volume of 476,113. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The business's 50-day moving average price is $12.61 and its 200-day moving average price is $14.81. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89. The firm has a market cap of $713.88 million, a PE ratio of 54.56, a P/E/G ratio of 0.57 and a beta of 1.56.

Insiders Place Their Bets

In other Daktronics news, Director Andrew David Siegel purchased 2,500 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director now owns 43,446 shares in the company, valued at approximately $499,629. This represents a 6.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.50% of the company's 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.