Insider Selling: Digi International Inc. (NASDAQ:DGII) Director Sells 7,000 Shares of Stock

Digi International Inc. (NASDAQ:DGII) Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 in the company, valued at approximately $2,644,178.80. This trade represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Digi International Price Performance

Shares of NASDAQ:DGII opened at $32.95 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.20 billion, a PE ratio of 54.02, a PEG ratio of 1.10 and a beta of 1.06. The company’s fifty day moving average is $29.65 and its 200 day moving average is $26.91. Digi International Inc. has a 52 week low of $20.17 and a 52 week high of $34.08.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of 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 reiterated a “hold” rating and issued a $32.00 price objective (up from $28.00) on shares of Digi International in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Digi International currently has an average rating of “Moderate Buy” and an average price target of $36.75.

Institutional Trading of Digi International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in Digi International by 92.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,140 shares of the technology company’s stock worth $187,000 after acquiring an additional 3,911 shares during the last quarter. Verity Asset Management Inc. bought a new position in Digi International during the 1st quarter valued at approximately $269,000. Cornercap Investment Counsel Inc. bought a new position in Digi International during the 2nd quarter valued at approximately $498,000. Captrust Financial Advisors lifted its holdings in Digi International by 13.5% in the 3rd 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. Finally, BNP Paribas Financial Markets increased its stake in shares of Digi International by 51.8% during 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 period. Institutional investors own 95.90% of the company’s stock.

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.