State Board of Administration of Florida Retirement System Trims Stake in DigitalGlobe, Inc (DGI)
State Board of Administration of Florida Retirement System trimmed its position in DigitalGlobe, Inc (NYSE:DGI) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,726 shares of the technology company’s stock after selling 4,120 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.08% of DigitalGlobe worth $1,589,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of DigitalGlobe by 13,624.9% in the first quarter. BlackRock Inc. now owns 5,158,901 shares of the technology company’s stock worth $168,955,000 after purchasing an additional 5,121,313 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of DigitalGlobe by 2.4% in the first quarter. Vanguard Group Inc. now owns 4,895,296 shares of the technology company’s stock worth $160,321,000 after purchasing an additional 112,694 shares during the last quarter. Shapiro Capital Management LLC increased its holdings in shares of DigitalGlobe by 106.9% in the first quarter. Shapiro Capital Management LLC now owns 4,006,441 shares of the technology company’s stock worth $131,211,000 after purchasing an additional 2,070,230 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DigitalGlobe by 17.0% in the first quarter. JPMorgan Chase & Co. now owns 2,229,580 shares of the technology company’s stock worth $73,019,000 after purchasing an additional 324,644 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of DigitalGlobe by 2.7% in the first quarter. State Street Corp now owns 1,465,236 shares of the technology company’s stock worth $47,987,000 after purchasing an additional 38,113 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
DigitalGlobe, Inc (DGI) opened at 34.55 on Friday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 1016.18 and a beta of 1.01. DigitalGlobe, Inc has a 52-week low of $23.95 and a 52-week high of $35.95. The company has a 50-day moving average price of $34.44 and a 200 day moving average price of $32.86.
DigitalGlobe (NYSE:DGI) last announced its quarterly earnings results on Thursday, July 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.07. The business had revenue of $225.70 million during the quarter, compared to the consensus estimate of $209.13 million. DigitalGlobe had a net margin of 0.64% and a return on equity of 2.40%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. On average, analysts expect that DigitalGlobe, Inc will post ($0.08) earnings per share for the current year.
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Several equities research analysts have recently issued reports on the company. BidaskClub cut DigitalGlobe from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Piper Jaffray Companies cut DigitalGlobe from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $34.00 in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.75.
DigitalGlobe, Inc is a provider of Earth imagery, data and analysis. The Company’s imagery solutions and other services support a range of uses, including mission-planning, mapping and analysis, environmental monitoring, oil and gas exploration and infrastructure management. The Company’s imagery solutions and other services are sourced from its own satellite constellation and third-party providers.
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