Digital Turbine, Inc. (NASDAQ:APPS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,330 shares of the software maker’s stock after selling 8,723 shares during the period. SG Americas Securities LLC’s holdings in Digital Turbine were worth $70,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in APPS. JPMorgan Chase & Co. raised its position in Digital Turbine by 719.6% in the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after purchasing an additional 340,512 shares during the period. Geode Capital Management LLC increased its holdings in Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after buying an additional 181,032 shares during the last quarter. Lindbrook Capital LLC bought a new stake in Digital Turbine in the third quarter valued at about $405,000. Barclays PLC boosted its stake in Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock valued at $776,000 after acquiring an additional 97,196 shares during the period. Finally, Centiva Capital LP acquired a new position in Digital Turbine in the third quarter valued at approximately $262,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $6.52 on Friday. The stock has a market cap of $684.67 million, a price-to-earnings ratio of -2.15 and a beta of 2.38. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $6.86. The stock’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.55. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. Equities research analysts anticipate that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. Macquarie reduced their price objective on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Craig Hallum reduced their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.38.

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.