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

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

Digi International Stock Up 4.7 %

DGII opened at $32.95 on Friday. The company has a fifty day moving average price of $29.65 and a 200-day moving average price of $26.91. The firm has a market capitalization of $1.20 billion, a P/E ratio of 54.02, a price-to-earnings-growth 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. Digi International Inc. has a one year low of $20.17 and a one year high of $34.08.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

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.