Globeflex Capital L P Makes New Investment in Digi International Inc. $DGII

Key Points

• Globeflex Capital purchased 43,366 shares of Digi International worth approximately $3.25 million, while institutional investors collectively own 95.9% of the company.
• Digi International insiders recently sold shares, including CFO James J. Loch’s sale of 100,000 shares for $6.94 million. Insiders now own 3.4% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $82.40. Digi also exceeded quarterly expectations, reporting $0.75 in EPS and $138.67 million in revenue, up 29% year over year.

Globeflex Capital L P purchased a new stake in Digi International Inc. (NASDAQ:DGII - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 43,366 shares of the technology company's stock, valued at approximately $3,250,000. Globeflex Capital L P owned approximately 0.11% of Digi International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas raised its holdings 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 worth $46,000 after acquiring an additional 494 shares during the period. Lazard Asset Management LLC boosted its stake in Digi International by 25.1% in the 2nd 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. boosted its stake in Digi International by 1,530.9% in the 3rd 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 period. Global Retirement Partners LLC acquired a new position in Digi International in the 2nd quarter worth $154,000. Finally, State of Wyoming bought a new position in Digi International during the 2nd quarter worth about $160,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Insiders Place Their Bets

In other news, CFO James J. Loch sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $69.44, for a total value of $6,944,000.00. Following the sale, the chief financial officer directly owned 167,589 shares of the company's stock, valued at approximately $11,637,380.16. This represents a 37.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James E. Freeland sold 450 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $68.00, for a total transaction of $30,600.00. Following the completion of the sale, the vice president owned 19,219 shares of the company's stock, valued at $1,306,892. This trade represents a 2.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

DGII has been the topic of several recent research reports. B. Riley Financial lifted their price target on Digi International from $78.00 to $86.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Craig Hallum upped their price objective on Digi International from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Stephens increased their price objective on Digi International from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Roth Capital set a $90.00 target price on Digi International and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Digi International from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $82.40.

Digi International Stock Performance

Shares of Digi International stock opened at $74.91 on Monday. The stock has a market cap of $2.84 billion, a P/E ratio of 59.45 and a beta of 0.97. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. Digi International Inc. has a 12-month low of $33.05 and a 12-month high of $86.84. The business's 50 day moving average is $71.89 and its 200-day moving average is $61.03.

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

About Digi International

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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