Deutsche Bank AG Acquires New Holdings in Digi International Inc. $DGII

Key Points

• Deutsche Bank acquired 39,250 shares of Digi International during the second quarter, valued at approximately $2.94 million. Institutional investors collectively own 95.9% of the company.
• Digi International’s CFO sold 100,000 shares for $6.94 million, reducing his position by 37.4%; corporate insiders own 3.4% of the stock.
• The company exceeded quarterly estimates with $0.75 EPS and $138.7 million in revenue, up 29% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $82.40.

Deutsche Bank AG bought a new position in shares of Digi International Inc. (NASDAQ:DGII - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,250 shares of the technology company's stock, valued at approximately $2,942,000. Deutsche Bank AG owned 0.10% of Digi International at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Formulas raised its stake in shares of Digi International by 109.3% during the first quarter. USA Financial Formulas now owns 946 shares of the technology company's stock valued at $46,000 after acquiring an additional 494 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Digi International by 25.1% during the second quarter. Lazard Asset Management LLC now owns 1,690 shares of the technology company's stock worth $58,000 after purchasing an additional 339 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Digi International by 1,530.9% in the third quarter. Russell Investments Group Ltd. now owns 3,376 shares of the technology company's stock worth $123,000 after purchasing an additional 3,169 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Digi International in the second quarter valued at $154,000. Finally, State of Wyoming acquired a new stake in Digi International in the second quarter valued at $160,000. 95.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Digi International

In related news, CFO James J. Loch sold 100,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $69.44, for a total transaction of $6,944,000.00. Following the transaction, the chief financial officer owned 167,589 shares in the company, valued at $11,637,380.16. The trade was a 37.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DGII has been the topic of several recent research reports. B. Riley Financial lifted their target price on Digi International from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Craig Hallum increased their price target on Digi International from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Digi International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Piper Sandler lifted their price objective on Digi International from $63.00 to $76.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Finally, Stephens upped their target price on Digi International from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.40.

Digi International Stock Up 0.2%

Shares of Digi International stock opened at $76.08 on Thursday. The stock's 50-day moving average is $72.30 and its 200 day moving average is $61.66. Digi International Inc. has a one year low of $33.40 and a one year high of $86.84. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 60.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 0.78.

Digi International (NASDAQ:DGII - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The business had revenue of $138.67 million during the quarter, compared to the consensus estimate of $132.57 million. Digi International had a return on equity of 12.16% and a net margin of 9.63%.The firm's revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Digi International has set its Q4 2026 guidance at 0.750-0.780 EPS. Equities research analysts anticipate that Digi International Inc. will post 2.31 EPS for the current year.

Digi International Company 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.

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