BNP Paribas Financial Markets Raises Stake in Digi International Inc. (NASDAQ:DGII)

BNP Paribas Financial Markets boosted its holdings in shares of Digi International Inc. (NASDAQ:DGII) by 51.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,129 shares of the technology company’s stock after buying an additional 8,235 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of Digi International worth $664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Digi International by 2.1% during 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 in the last quarter. Rhumbline Advisers raised its position in shares of Digi International by 6.7% during the 2nd 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. Cornercap Investment Counsel Inc. purchased a new position in Digi International in the 2nd quarter valued at about $498,000. Finally, Geneva Capital Management LLC boosted its holdings in 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 worth $45,560,000 after buying an additional 79,313 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on DGII. Craig Hallum reissued 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. Piper Sandler upped their target price on shares of Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Digi International Stock Performance

Shares of DGII stock opened at $33.33 on Friday. The stock has a fifty day moving average price of $31.29 and a 200 day moving average price of $27.55. 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 stock has a market cap of $1.22 billion, a PE ratio of 54.64, a P/E/G ratio of 1.16 and a beta of 1.05. Digi International Inc. has a 1 year low of $20.17 and a 1 year high of $34.82.

Digi International (NASDAQ:DGII) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $105.05 million during the quarter, compared to the consensus estimate of $104.16 million. Digi International had a return on equity of 11.24% and a net margin of 5.31%. Digi International’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Sell-side analysts forecast that Digi International Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Satbir Khanuja sold 7,000 shares of the company’s stock in a transaction 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 directly owns 83,255 shares in the company, valued at $2,644,178.80. This represents a 7.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Terrence G. Schneider sold 2,808 shares of Digi International stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $33.06, for a total value of $92,832.48. Following the sale, the vice president now directly owns 39,002 shares in the company, valued at approximately $1,289,406.12. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,329 shares of company stock valued at $332,361. Corporate insiders own 4.10% of the company’s stock.

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.