SG Americas Securities LLC Lowers Stake in Digi International Inc. (NASDAQ:DGII)

SG Americas Securities LLC decreased its position in Digi International Inc. (NASDAQ:DGII) by 49.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,526 shares of the technology company’s stock after selling 8,402 shares during the quarter. SG Americas Securities LLC’s holdings in Digi International were worth $258,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geneva Capital Management LLC increased its position in shares of Digi International by 5.0% during 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 purchasing an additional 79,313 shares during the period. Geode Capital Management LLC grew its stake in 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 buying an additional 11,239 shares during the last quarter. BNP Paribas Financial Markets increased its position in Digi International by 51.8% during the third quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company’s stock worth $664,000 after acquiring an additional 8,235 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of 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 acquiring an additional 2,418 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Digi International Stock Performance

NASDAQ DGII opened at $35.68 on Friday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 58.49, a PEG ratio of 1.11 and a beta of 1.06. Digi International Inc. has a twelve month low of $20.17 and a twelve month high of $37.06. The stock has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $29.60. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a return on equity of 11.24% and a net margin of 5.31%. Sell-side analysts expect that Digi International Inc. will post 1.65 EPS for the current year.

Insider Buying and Selling at Digi International

In related news, Director Satbir Khanuja sold 7,000 shares of the company’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 transaction of $222,320.00. Following the sale, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Terrence G. Schneider sold 2,808 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the completion of the transaction, the vice president now owns 39,002 shares in the company, valued at approximately $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,329 shares of company stock valued at $332,361. Company insiders own 3.30% 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.