New York State Common Retirement Fund Cuts Stake in Digi International Inc. (NASDAQ:DGII)

New York State Common Retirement Fund decreased its stake in Digi International Inc. (NASDAQ:DGII) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 656,575 shares of the technology company’s stock after selling 2,460 shares during the quarter. New York State Common Retirement Fund’s holdings in Digi International were worth $19,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DGII. Pacer Advisors Inc. lifted its position in Digi International by 110.2% during the 4th quarter. Pacer Advisors Inc. now owns 9,930 shares of the technology company’s stock worth $300,000 after acquiring an additional 5,207 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Digi International by 1.3% during the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock valued at $24,074,000 after purchasing an additional 11,239 shares during the period. Captrust Financial Advisors lifted its position 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 worth $560,000 after purchasing an additional 2,418 shares in the last quarter. BNP Paribas Financial Markets boosted its stake 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 valued at $664,000 after purchasing an additional 8,235 shares during the period. Finally, Geneva Capital Management LLC grew its holdings in Digi International by 5.0% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DGII. Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Digi International in a report on Thursday, February 6th. StockNews.com upgraded Digi International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Craig Hallum reissued a “hold” rating and issued a $32.00 price target (up previously from $28.00) on shares of Digi International in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on Digi International from $26.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.75.

Insider Activity

In other news, VP Terrence G. Schneider sold 2,808 shares of the firm’s stock in a transaction dated 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 directly owns 39,002 shares in the company, valued at approximately $1,289,406.12. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

Digi International Price Performance

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

Digi International (NASDAQ:DGII) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. Equities analysts expect that Digi International Inc. will post 1.68 EPS for the current fiscal year.

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.