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 the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 83,255 shares of the company’s stock, valued at $2,644,178.80. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Digi International Price Performance

Shares of NASDAQ:DGII traded up $1.47 during midday trading on Friday, hitting $32.95. The company had a trading volume of 548,747 shares, compared to its average volume of 196,661. 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 simple moving average is $29.53 and its 200-day simple moving average is $26.87. Digi International Inc. has a twelve month low of $20.17 and a twelve month high of $34.08. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

Digi International (NASDAQ:DGII) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, beating 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 firm had revenue of $105.05 million during the quarter, compared to the consensus estimate of $104.16 million. During the same quarter last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts predict that Digi International Inc. will post 1.77 earnings per share for the current year.

Institutional Trading of Digi International

A number of large investors have recently modified their holdings of DGII. Russell Investments Group Ltd. boosted its stake in Digi International by 1,814.0% in the first quarter. Russell Investments Group Ltd. now owns 57,764 shares of the technology company’s stock valued at $1,844,000 after acquiring an additional 54,746 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Digi International by 216.7% during 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 last quarter. Geneva Capital Management LLC increased its holdings in shares of Digi International by 5.0% in 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 acquiring an additional 79,313 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Digi International in the 2nd quarter valued at $498,000. Finally, SG Americas Securities LLC boosted its stake in shares of Digi International by 108.0% during the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company’s stock worth $466,000 after buying an additional 8,788 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DGII shares. Craig Hallum reiterated a “hold” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Piper Sandler upped their price target on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Digi International has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

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.