Franklin Resources Inc. Purchases New Shares in Digital Turbine, Inc. (NASDAQ:APPS)

Franklin Resources Inc. acquired a new position in Digital Turbine, Inc. (NASDAQ:APPS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 60,318 shares of the software maker’s stock, valued at approximately $185,000. Franklin Resources Inc. owned approximately 0.06% of Digital Turbine at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of 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 worth $7,169,000 after buying an additional 181,032 shares during the period. Rice Hall James & Associates LLC boosted its stake in Digital Turbine by 4.1% during the third quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock worth $6,051,000 after acquiring an additional 77,185 shares in the last quarter. AQR Capital Management LLC grew its holdings in Digital Turbine by 97.1% in the second quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after purchasing an additional 755,707 shares during the period. Brooktree Capital Management increased its stake in shares of Digital Turbine by 7.4% during the third quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock valued at $1,122,000 after purchasing an additional 25,061 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Digital Turbine during the second quarter valued at approximately $594,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on APPS. Craig Hallum cut their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Macquarie reduced their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Bank of America cut shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.38.

Insider Activity

In other news, Director Robert M. Deutschman acquired 100,000 shares of Digital Turbine stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the transaction, the director now owns 571,216 shares in the company, valued at $805,414.56. The trade was a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 127,000 shares of company stock valued at $175,610 over the last three months. Insiders own 5.80% of the company’s stock.

Digital Turbine Stock Performance

Shares of APPS opened at $1.76 on Friday. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $6.76. The business’s fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $2.37. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The company has a market cap of $182.56 million, a price-to-earnings ratio of -0.60 and a beta of 2.38.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The company’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the business earned $0.04 earnings per share. Research analysts anticipate that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.

Digital Turbine 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.