Digi International Inc. $DGII Shares Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Digi International Inc. by 9,344.7%, acquiring over 107,000 additional shares during the first quarter, bringing its total to 108,614 shares valued at approximately $3.02 million.
• Several institutional investors have also made substantial increases in their holdings in Digi International, with Pacer Advisors growing their stake by 2,297.0% and Ameriprise Financial increasing theirs by 8.8%.
• Analysts have given Digi International a consensus rating of "Moderate Buy" with a target price averaging $38.75, following a positive quarterly earnings report where the company exceeded expectations for both earnings per share and revenue.

Jones Financial Companies Lllp increased its holdings in Digi International Inc. (NASDAQ:DGII - Free Report) by 9,344.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,614 shares of the technology company's stock after acquiring an additional 107,464 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.29% of Digi International worth $3,023,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Captrust Financial Advisors increased its holdings in shares of Digi International by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 21,629 shares of the technology company's stock valued at $654,000 after acquiring an additional 1,291 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Digi International in the 4th quarter valued at $45,000. BNP Paribas Financial Markets increased its holdings in shares of Digi International by 16.3% in the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company's stock valued at $848,000 after acquiring an additional 3,925 shares during the period. GAMMA Investing LLC increased its holdings in shares of Digi International by 2,467.2% in the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock valued at $783,000 after acquiring an additional 27,040 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Digi International by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock valued at $10,880,000 after acquiring an additional 29,026 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DGII. Wall Street Zen upgraded shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley lifted their price objective on shares of Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Piper Sandler lifted their price objective on shares of Digi International from $30.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Roth Capital reiterated a "buy" rating on shares of Digi International in a research report on Thursday, August 7th. Finally, Stephens reiterated an "overweight" rating and issued a $50.00 price objective on shares of Digi International in a research report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Digi International has an average rating of "Moderate Buy" and an average price target of $38.75.

Digi International Price Performance

Shares of Digi International stock traded up $0.22 on Tuesday, hitting $35.92. The company's stock had a trading volume of 213,886 shares, compared to its average volume of 193,928. Digi International Inc. has a 52-week low of $22.39 and a 52-week high of $37.06. The company has a quick ratio of 1.03, a current ratio of 1.43 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $33.71 and a 200-day moving average price of $31.58. The company has a market capitalization of $1.33 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Digi International had a net margin of 10.14% and a return on equity of 10.96%. The business had revenue of $107.51 million for the quarter, compared to analyst estimates of $106.23 million. During the same period in the previous year, the firm earned $0.50 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

Digi International 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.