Digi International Inc. $DGII Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in Digi International Inc. (NASDAQ:DGII) by 25.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,110 shares of the technology company’s stock after selling 46,111 shares during the period. Pacer Advisors Inc. owned about 0.37% of Digi International worth $4,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in DGII. Hillsdale Investment Management Inc. purchased a new position in Digi International in the second quarter worth approximately $4,293,000. Jones Financial Companies Lllp lifted its position in shares of Digi International by 9,344.7% during the 1st quarter. Jones Financial Companies Lllp now owns 108,614 shares of the technology company’s stock worth $3,023,000 after purchasing an additional 107,464 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Digi International by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 1,730,417 shares of the technology company’s stock worth $60,322,000 after purchasing an additional 95,756 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Digi International by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 652,197 shares of the technology company’s stock worth $22,736,000 after purchasing an additional 46,659 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Digi International in the second quarter valued at $768,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Digi International

In other news, VP Terrence G. Schneider sold 16,667 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.56, for a total transaction of $676,013.52. Following the completion of the sale, the vice president owned 24,756 shares in the company, valued at approximately $1,004,103.36. This represents a 40.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David H. Sampsell sold 22,222 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $38.38, for a total value of $852,880.36. Following the transaction, the vice president directly owned 31,749 shares in the company, valued at approximately $1,218,526.62. This represents a 41.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 56,572 shares of company stock worth $2,256,580 over the last three months. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on DGII. Piper Sandler lifted their price target on Digi International from $36.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Roth Capital raised their target price on Digi International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Digi International in a report on Wednesday, December 24th. Craig Hallum upgraded shares of Digi International from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $45.00 in a research note on Thursday, November 13th. Finally, B. Riley boosted their price objective on shares of Digi International from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.80.

Digi International Trading Down 0.5%

DGII opened at $44.26 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.25. Digi International Inc. has a 52 week low of $22.39 and a 52 week high of $48.00. The business’s 50 day moving average is $40.91 and its two-hundred day moving average is $36.89. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 40.98 and a beta of 0.87.

Digi International (NASDAQ:DGII) last posted its quarterly earnings data on Wednesday, November 12th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $114.34 million during the quarter, compared to the consensus estimate of $110.75 million. Digi International had a return on equity of 10.88% and a net margin of 9.48%.The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, research analysts predict that Digi International Inc. will post 1.68 EPS for the current year.

Digi International Profile

Digi International Inc is a provider of Internet of Things (IoT) connectivity products and services designed to link devices to networks and applications securely. The company develops a broad range of networking hardware, including cellular and Ethernet routers, gateways, embedded modules and adaptors, as well as accessories and antennas. Digi’s solutions enable businesses to deploy remote monitoring, control and automation systems across diverse industries such as transportation, utilities, healthcare, retail and industrial manufacturing.

In addition to its physical devices, Digi offers cloud-based management software and professional services that simplify device configuration, monitoring and over-the-air updates.