Jones Financial Companies Lllp Has $3.02 Million Stock Holdings in Digi International Inc. $DGII

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DGII. Ameriprise Financial Inc. raised its position in Digi International by 8.8% in the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company's stock worth $10,880,000 after purchasing an additional 29,026 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Digi International by 2,297.0% in the 1st quarter. Pacer Advisors Inc. now owns 238,019 shares of the technology company's stock valued at $6,624,000 after purchasing an additional 228,089 shares during the period. Herald Investment Management Ltd acquired a new position in shares of Digi International in the 1st quarter worth approximately $2,226,000. GAMMA Investing LLC lifted its position in shares of Digi International by 2,467.2% during the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company's stock worth $783,000 after buying an additional 27,040 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in 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 buying an additional 3,925 shares in the last quarter. Institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on DGII. Piper Sandler increased their price objective on Digi International from $30.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Stephens reiterated an "overweight" rating and set a $50.00 target price on shares of Digi International in a research report on Tuesday, August 19th. 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. Roth Capital reaffirmed a "buy" rating on shares of Digi International in a research note on Thursday, August 7th. Finally, B. Riley lifted their target price on shares of Digi International from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Digi International currently has an average rating of "Moderate Buy" and a consensus target price of $38.75.

Digi International Trading Down 1.2%

DGII opened at $34.15 on Thursday. Digi International Inc. has a 1-year low of $22.39 and a 1-year high of $37.06. The stock has a market capitalization of $1.27 billion, a PE ratio of 29.96, a PEG ratio of 1.19 and a beta of 0.87. The company has a current ratio of 1.43, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $33.68 and a two-hundred day moving average price of $31.46.

Digi International (NASDAQ:DGII - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.53 EPS for the quarter, beating 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 analysts' expectations of $106.23 million. During the same period in the prior year, the firm earned $0.50 earnings per share. Digi International's revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Digi International Inc. will post 1.68 earnings per share for the current fiscal year.

About Digi International

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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