Bank of New York Mellon Corp grew its stake in Digi International Inc. (NASDAQ:DGII) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 349,957 shares of the technology company’s stock after purchasing an additional 9,956 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.28% of Digi International worth $4,707,000 as of its most recent SEC filing.
Separately, Gilder Gagnon Howe & Co. LLC grew its position in shares of Digi International by 9.3% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,110,907 shares of the technology company’s stock valued at $14,942,000 after purchasing an additional 94,943 shares during the period. Institutional investors own 82.10% of the company’s stock.
Several brokerages have recently issued reports on DGII. TheStreet upgraded shares of Digi International from a “c+” rating to a “b” rating in a research report on Friday, February 1st. Zacks Investment Research upgraded shares of Digi International from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, January 16th. Craig Hallum began coverage on shares of Digi International in a research report on Tuesday, January 8th. They issued a “buy” rating and a $17.00 target price on the stock. ValuEngine upgraded shares of Digi International from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $21.00 target price on shares of Digi International in a research report on Friday, November 16th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.58.
In related news, VP Tracy L. Roberts sold 2,401 shares of the business’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $11.86, for a total transaction of $28,475.86. Following the transaction, the vice president now directly owns 40,619 shares in the company, valued at $481,741.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jon A. Nyland sold 33,071 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $13.23, for a total transaction of $437,529.33. Following the transaction, the vice president now owns 65,895 shares in the company, valued at $871,790.85. The disclosure for this sale can be found here. Insiders have sold 103,757 shares of company stock worth $1,343,707 over the last 90 days. 6.80% of the stock is currently owned by company insiders.
DGII opened at $13.26 on Thursday. The stock has a market cap of $365.03 million, a P/E ratio of 265.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.44. Digi International Inc. has a twelve month low of $9.28 and a twelve month high of $14.70.
Digi International (NASDAQ:DGII) last posted its quarterly earnings results on Thursday, January 31st. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $62.31 million for the quarter, compared to analyst estimates of $58.30 million. Digi International had a net margin of 4.30% and a return on equity of 2.20%. Analysts anticipate that Digi International Inc. will post 0.39 EPS for the current fiscal year.
About Digi International
Digi International Inc provides Internet of Things connectivity products, services, and solutions in North America, Europe, the Middle East, Africa, Asia, and Latin America. The company operates in two segments, IoT Products & Services and IoT Solutions. It offers cellular routers that provide connectivity for devices over a cellular data network; cellular gateway products that enable devices or groups of devices to be networked in locations where there is no existing network or where access to a network is prohibited; radio frequency products that utilize a range of wireless protocols for PC-to-device or device-to-device connectivity; and Connect, Rabbit, and ARM-based embedded systems on module and single board computers for medical, transportation, and industrial device manufacturers.
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