Digi International Inc. (NASDAQ:DGII) Director Satbir Khanuja Sells 7,000 Shares

Digi International Inc. (NASDAQ:DGII) Director Satbir Khanuja sold 7,000 shares of the stock in a transaction on 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. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Digi International Price Performance

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

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $105.05 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Sell-side analysts predict that Digi International Inc. will post 1.69 earnings per share for the current year.

Institutional Trading of Digi International

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Digi International by 1,814.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock worth $1,844,000 after buying an additional 54,746 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Digi International in the first quarter valued at about $269,000. Harbor Capital Advisors Inc. boosted its stake in shares of Digi International by 216.7% in the second 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 during the period. SG Americas Securities LLC grew its position in shares of Digi International by 92.5% during the second quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after purchasing an additional 3,911 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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 purchasing an additional 6,534 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DGII has been the subject of a number of research reports. Piper Sandler upped their price objective on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum reaffirmed a “hold” rating and set a $32.00 price target (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Digi International currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

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.