Geneva Capital Management LLC Sells 19,761 Shares of Digi International Inc. (NASDAQ:DGII)

Geneva Capital Management LLC trimmed its stake in shares of Digi International Inc. (NASDAQ:DGII) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,635,150 shares of the technology company’s stock after selling 19,761 shares during the period. Geneva Capital Management LLC owned 4.43% of Digi International worth $49,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Digi International by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after purchasing an additional 11,239 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Digi International by 51.8% in the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock valued at $664,000 after buying an additional 8,235 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Digi International by 110.2% in the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after purchasing an additional 5,207 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after buying an additional 2,418 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com raised shares of Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Digi International in a research note on Thursday, February 6th. Craig Hallum restated a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, Piper Sandler upped their price target on Digi International from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.75.

Digi International Stock Performance

NASDAQ DGII opened at $29.36 on Thursday. Digi International Inc. has a 52-week low of $20.17 and a 52-week high of $37.06. The stock has a market cap of $1.08 billion, a PE ratio of 30.58, a P/E/G ratio of 1.23 and a beta of 1.06. The firm has a 50-day moving average of $31.50 and a 200-day moving average of $30.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. On average, sell-side analysts anticipate that Digi International Inc. will post 1.68 EPS for the current year.

Digi International Company Profile

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.