Digi International Inc. (NASDAQ:DGII) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Digi International Inc. (NASDAQ:DGII) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 656,575 shares of the technology company’s stock after selling 2,460 shares during the period. New York State Common Retirement Fund owned 1.78% of Digi International worth $19,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geneva Capital Management LLC grew its position in shares of 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 valued at $45,560,000 after purchasing an additional 79,313 shares during the last quarter. Geode Capital Management LLC increased its position in Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Digi International by 51.8% in 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 last quarter. Pacer Advisors Inc. lifted its position in shares of Digi International by 110.2% in the fourth quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock valued at $300,000 after acquiring an additional 5,207 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Digi International by 13.5% during the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock valued at $560,000 after acquiring an additional 2,418 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Digi International Trading Down 3.9 %

Shares of DGII stock opened at $33.66 on Friday. The firm’s 50-day simple moving average is $31.65 and its 200-day simple moving average is $30.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.06. Digi International Inc. has a 1-year low of $20.17 and a 1-year high of $37.06. The firm has a market cap of $1.24 billion, a P/E ratio of 35.06, a PEG ratio of 1.23 and a beta of 1.06.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Digi International had a return on equity of 11.16% and a net margin of 8.45%. As a group, equities analysts forecast that Digi International Inc. will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, VP Terrence G. Schneider sold 2,808 shares of the firm’s 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

DGII has been the subject of several analyst reports. Piper Sandler boosted their target price 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. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a research report on Thursday, February 6th. Craig Hallum restated a “hold” rating and set a $32.00 target price (up previously from $28.00) on shares of Digi International in a research report on Thursday, November 14th. Finally, StockNews.com upgraded Digi International from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.75.

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.