BlackRock Discloses 4.5% Passive Stake in Daktronics Inc.
Ticker: DAKT · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 915779
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock just reported a 4.5% stake in Daktronics, a significant but passive investment.**
AI Summary
BlackRock Inc. reported on January 29, 2024, that as of December 31, 2023, it beneficially owns 1,023,737 shares of Daktronics Inc. Common Stock, representing 4.5% of the company. This filing indicates BlackRock's significant, but not controlling, passive investment in Daktronics. For current or prospective Daktronics shareholders, this shows a major institutional investor has a notable stake, which can be seen as a vote of confidence, but also means BlackRock's future trading decisions could influence the stock price.
Why It Matters
This filing reveals a major institutional investor's position, signaling their confidence in Daktronics and potentially influencing other investors.
Risk Assessment
Risk Level: low — This is a passive filing indicating a significant but non-controlling stake, which generally poses low direct risk to the company or its shareholders.
Analyst Insight
Investors should note BlackRock's significant, passive stake as a potential indicator of institutional confidence, but recognize it doesn't imply active management or immediate strategic changes for Daktronics.
Key Numbers
- 1,023,737 — Shares Owned (The total number of Daktronics Inc. Common Stock shares beneficially owned by BlackRock Inc.)
- 4.5% — Percentage of Class (The percentage of Daktronics Inc. Common Stock that BlackRock Inc. beneficially owns.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- DAKTRONICS INC /SD/ (company) — the subject company whose shares are being reported
- 1,023,737 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 4.5% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (person) — the date of the event which required the filing
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in Daktronics Inc. for the foreseeable future. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is BlackRock Inc., a major institutional investment manager, as stated in the 'FILED BY' section of the filing.
What is the subject company whose shares are being reported?
The subject company is DAKTRONICS INC /SD/, identified under the 'SUBJECT COMPANY' section and as the 'Name of Issuer' in the Schedule 13G.
How many shares of Daktronics Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 1,023,737 shares of Daktronics Inc. Common Stock, as indicated in the summary of beneficial ownership.
What percentage of Daktronics Inc.'s Common Stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s ownership represents 4.5% of Daktronics Inc.'s Common Stock, as detailed in the filing's beneficial ownership summary.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the Schedule 13G.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by December 31, 2023 regarding DAKTRONICS INC /SD/ (DAKT).