Digi International (NASDAQ:DGII) Shares Gap Up to $30.65

Shares of Digi International Inc. (NASDAQ:DGII) gapped up prior to trading on Friday . The stock had previously closed at $30.65, but opened at $31.68. Digi International shares last traded at $31.68, with a volume of 33,744 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Digi International in a research note on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Digi International has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Digi International Price Performance

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.94 and a current ratio of 1.88. The company has a 50 day moving average of $35.14 and a 200 day moving average of $34.63.

Digi International (NASDAQ:DGII) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $112.24 million for the quarter, compared to analysts’ expectations of $108.75 million. Digi International had a return on equity of 12.11% and a net margin of 6.76%. As a group, equities research analysts anticipate that Digi International Inc. will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, VP David H. Sampsell sold 6,922 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $30.73, for a total value of $212,713.06. Following the completion of the sale, the vice president now directly owns 71,412 shares in the company, valued at approximately $2,194,490.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP David H. Sampsell sold 6,922 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $30.73, for a total transaction of $212,713.06. Following the transaction, the vice president now owns 71,412 shares in the company, valued at $2,194,490.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David H. Sampsell sold 4,000 shares of Digi International stock in a transaction on Friday, August 18th. The shares were sold at an average price of $30.91, for a total transaction of $123,640.00. Following the sale, the vice president now directly owns 71,412 shares of the company’s stock, valued at approximately $2,207,344.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,694 shares of company stock valued at $1,275,762. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Digi International

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its holdings in Digi International by 13.3% in the first quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock worth $272,000 after purchasing an additional 1,491 shares during the period. MetLife Investment Management LLC increased its stake in Digi International by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 18,052 shares of the technology company’s stock valued at $388,000 after buying an additional 6,662 shares during the last quarter. Rhumbline Advisers increased its stake in Digi International by 2.9% in the 1st quarter. Rhumbline Advisers now owns 97,635 shares of the technology company’s stock valued at $2,101,000 after buying an additional 2,711 shares during the last quarter. Lazard Asset Management LLC increased its stake in Digi International by 61.9% in the 1st quarter. Lazard Asset Management LLC now owns 4,350 shares of the technology company’s stock valued at $93,000 after buying an additional 1,663 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Digi International by 32.0% in the 3rd quarter. Credit Suisse AG now owns 31,170 shares of the technology company’s stock valued at $1,078,000 after acquiring an additional 7,552 shares during the period. 95.90% of the stock is owned by institutional investors.

About Digi International

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States 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.