Digi International Inc. (NASDAQ:DGII) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its position in shares of Digi International Inc. (NASDAQ:DGII - Free Report) by 20.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,502 shares of the technology company's stock after selling 52,199 shares during the quarter. Digi International comprises 1.1% of Essex Investment Management Co. LLC's portfolio, making the stock its 20th largest position. Essex Investment Management Co. LLC owned approximately 0.57% of Digi International worth $5,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DGII. Geneva Capital Management LLC raised its stake in Digi International by 50.0% during the fourth quarter. Geneva Capital Management LLC now owns 1,396,042 shares of the technology company's stock valued at $36,297,000 after buying an additional 465,382 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Digi International by 44.4% during the 3rd quarter. New York State Common Retirement Fund now owns 676,652 shares of the technology company's stock worth $18,270,000 after purchasing an additional 208,204 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in shares of Digi International by 36.1% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 527,007 shares of the technology company's stock worth $14,229,000 after purchasing an additional 139,720 shares during the period. Summit Creek Advisors LLC raised its position in shares of Digi International by 16.5% during the 4th quarter. Summit Creek Advisors LLC now owns 297,435 shares of the technology company's stock worth $7,733,000 after purchasing an additional 42,179 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new stake in shares of Digi International during the 4th quarter worth approximately $525,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Digi International Stock Performance

DGII stock traded up $0.39 on Friday, reaching $27.39. The company's stock had a trading volume of 158,998 shares, compared to its average volume of 197,586. Digi International Inc. has a 52 week low of $21.25 and a 52 week high of $42.95. The company has a market capitalization of $996.45 million, a P/E ratio of 72.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. The firm has a fifty day moving average of $29.90 and a two-hundred day moving average of $27.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.05 and a quick ratio of 1.28.

Analyst Ratings Changes

A number of analysts have recently weighed in on DGII shares. Piper Sandler reiterated an "overweight" rating and set a $35.00 price target (down from $40.00) on shares of Digi International in a research report on Friday, May 3rd. Roth Mkm dropped their price target on Digi International from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Finally, Stephens increased their price target on Digi International from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, February 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.00.

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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