Barclays PLC raised its position in Digital Turbine, Inc. (NASDAQ:APPS – Free Report) by 62.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,673 shares of the software maker’s stock after acquiring an additional 97,196 shares during the period. Barclays PLC owned about 0.24% of Digital Turbine worth $776,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after acquiring an additional 181,032 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Digital Turbine by 33.8% in the 3rd quarter. XTX Topco Ltd now owns 169,868 shares of the software maker’s stock worth $521,000 after buying an additional 42,954 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Digital Turbine in the 3rd quarter worth approximately $262,000. Intech Investment Management LLC acquired a new position in shares of Digital Turbine in the 3rd quarter worth approximately $84,000. Finally, Brooktree Capital Management raised its holdings in shares of Digital Turbine by 7.4% in the 3rd quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock worth $1,122,000 after buying an additional 25,061 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.
Analyst Upgrades and Downgrades
APPS has been the subject of a number of recent research reports. Craig Hallum dropped their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie dropped their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and an average price target of $2.38.
Digital Turbine Trading Up 13.5 %
APPS stock opened at $1.93 on Thursday. The business has a fifty day moving average price of $1.60 and a 200 day moving average price of $2.40. Digital Turbine, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $6.03. The stock has a market capitalization of $200.19 million, a price-to-earnings ratio of -0.65 and a beta of 2.34. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09.
Digital Turbine (NASDAQ:APPS – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $125.85 million. During the same period in the prior year, the business earned $0.04 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. Analysts expect that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.
Insider Activity at Digital Turbine
In other news, Director Robert M. Deutschman acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $1.41 per share, for a total transaction of $141,000.00. Following the transaction, the director now owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. This represents a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 127,000 shares of company stock valued at $175,610 in the last three months. Corporate insiders own 5.80% of the company’s stock.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.
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