Digi International Inc. (NASDAQ:DGII) Director Sells $222,320.00 in Stock

Digi International Inc. (NASDAQ:DGII) Director Satbir Khanuja sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the transaction, the director now directly owns 83,255 shares in the company, valued at $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Digi International Stock Up 4.7 %

NASDAQ DGII opened at $32.95 on Monday. Digi International Inc. has a 1 year low of $20.17 and a 1 year high of $34.08. The stock has a market capitalization of $1.20 billion, a PE ratio of 54.02, a PEG ratio of 1.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.73 and a quick ratio of 1.13. The business’s 50-day moving average is $29.65 and its 200 day moving average is $26.91.

Digi International (NASDAQ:DGII) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $105.05 million for the quarter, compared to analyst estimates of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Sell-side analysts forecast that Digi International Inc. will post 1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

DGII has been the topic of several recent research reports. Piper Sandler raised their price target on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reissued a “hold” rating and set a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Geneva Capital Management LLC boosted its stake in shares of Digi International by 5.0% during the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company’s stock valued at $45,560,000 after purchasing an additional 79,313 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the period. Bank of New York Mellon Corp boosted its position in Digi International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 312,765 shares of the technology company’s stock valued at $7,172,000 after acquiring an additional 6,534 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Digi International by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 114,584 shares of the technology company’s stock worth $2,627,000 after acquiring an additional 7,208 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Digi International by 216.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 91,197 shares of the technology company’s stock worth $2,091,000 after acquiring an additional 62,402 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

About Digi International

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.