Digital Turbine (NASDAQ:APPS) Shares Gap Down to $8.54

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Shares of Digital Turbine Inc (NASDAQ:APPS) gapped down before the market opened on Tuesday . The stock had previously closed at $8.88, but opened at $8.54. Digital Turbine shares last traded at $8.26, with a volume of 4,914,337 shares.

Several brokerages recently weighed in on APPS. Roth Capital reissued a “buy” rating and issued a $9.00 price objective on shares of Digital Turbine in a report on Monday, November 25th. BidaskClub raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 21st. ValuEngine downgraded shares of Digital Turbine from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a research note on Wednesday, November 6th. Finally, B. Riley set a $7.00 target price on shares of Digital Turbine and gave the stock a “buy” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $6.48.

The business’s fifty day simple moving average is $7.56 and its 200-day simple moving average is $6.13. The firm has a market cap of $708.87 million, a P/E ratio of 165.20 and a beta of 1.58.

In other news, Director Michelle M. Sterling bought 13,640 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average price of $7.45 per share, with a total value of $101,618.00. Following the acquisition, the director now owns 12,199 shares of the company’s stock, valued at approximately $90,882.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Gordon Stone III sold 35,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $8.20, for a total transaction of $287,000.00. Following the completion of the sale, the chief executive officer now owns 974,480 shares in the company, valued at $7,990,736. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in shares of Digital Turbine by 50.3% during the 2nd quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock valued at $4,648,000 after purchasing an additional 310,980 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in Digital Turbine by 433.6% during the second quarter. Stone Ridge Asset Management LLC now owns 61,900 shares of the software maker’s stock valued at $310,000 after buying an additional 50,300 shares during the period. Northern Trust Corp boosted its stake in Digital Turbine by 63.0% during the second quarter. Northern Trust Corp now owns 179,264 shares of the software maker’s stock valued at $896,000 after buying an additional 69,319 shares during the period. Calamos Advisors LLC bought a new stake in Digital Turbine during the second quarter valued at $2,185,000. Finally, Invesco Ltd. bought a new position in Digital Turbine in the 2nd quarter worth about $2,847,000. 39.38% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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