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 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 transaction, the director now owns 83,255 shares of the company’s stock, valued at approximately $2,644,178.80. The trade was a 7.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Digi International Trading Up 4.7 %

Shares of DGII traded up $1.47 during mid-day trading on Friday, hitting $32.95. The company had a trading volume of 548,747 shares, compared to its average volume of 196,661. Digi International Inc. has a 1-year low of $20.17 and a 1-year high of $34.08. 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 business’s 50-day simple moving average is $29.53 and its 200-day simple moving average is $26.87. The stock has a market cap of $1.20 billion, a PE ratio of 51.61, a P/E/G ratio of 1.04 and a beta of 1.06.

Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS 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 for the quarter, compared to analyst estimates of $104.16 million. During the same quarter last year, the firm posted $0.44 earnings per share. Digi International’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that Digi International Inc. will post 1.77 earnings per share for the current year.

Institutional Trading of Digi International

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position 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 purchasing an additional 3,911 shares during the last quarter. Verity Asset Management Inc. bought a new position in shares of Digi International in the first quarter worth $269,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Digi International during the second quarter valued at $498,000. Captrust Financial Advisors lifted its holdings in Digi International by 13.5% in the third quarter. Captrust Financial Advisors now owns 20,338 shares of the technology company’s stock worth $560,000 after purchasing an additional 2,418 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings 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. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DGII shares. 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 previously 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 and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.