Dorsey & Whitney Trust CO LLC cut its stake in Digi International Inc. (NASDAQ:DGII – Free Report) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 52,496 shares of the technology company’s stock after selling 1,188 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Digi International were worth $1,417,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Navellier & Associates Inc. grew its position in shares of Digi International by 2.9% in the second quarter. Navellier & Associates Inc. now owns 14,488 shares of the technology company’s stock valued at $571,000 after purchasing an additional 408 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Digi International by 7.4% in the fourth quarter. Lazard Asset Management LLC now owns 7,943 shares of the technology company’s stock valued at $290,000 after purchasing an additional 544 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Digi International by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 11,412 shares of the technology company’s stock valued at $449,000 after purchasing an additional 615 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Digi International by 76.8% in the third quarter. Quantbot Technologies LP now owns 1,752 shares of the technology company’s stock valued at $47,000 after purchasing an additional 761 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Digi International by 13.3% in the first quarter. US Bancorp DE now owns 12,666 shares of the technology company’s stock valued at $272,000 after purchasing an additional 1,491 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.
Digi International Price Performance
Digi International stock opened at $28.85 on Monday. Digi International Inc. has a 52 week low of $21.25 and a 52 week high of $42.95. The business has a 50-day simple moving average of $24.87 and a 200 day simple moving average of $27.82. The company has a quick ratio of 1.39, a current ratio of 2.35 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 0.96 and a beta of 1.18.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Digi International from $50.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. B. Riley initiated coverage on Digi International in a research report on Wednesday, November 15th. They set a “buy” rating and a $34.00 target price for the company. Stephens restated an “overweight” rating and set a $40.00 target price on shares of Digi International in a research report on Wednesday, December 13th. Finally, TheStreet cut Digi International from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Digi International currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.67.
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.
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