Digital Turbine, Inc. (NASDAQ:APPS) Director Buys $24,600.00 in Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 20,000 shares of Digital Turbine stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $1.23 per share, with a total value of $24,600.00. Following the completion of the purchase, the director now directly owns 591,216 shares of the company’s stock, valued at approximately $727,195.68. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Digital Turbine Stock Up 2.8 %

Shares of APPS stock opened at $1.47 on Friday. The company has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $2.47. The stock has a market cap of $152.48 million, a P/E ratio of -0.50, a P/E/G ratio of 3.74 and a beta of 2.59. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.33. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last posted 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 company had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $125.85 million. Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after acquiring an additional 181,032 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of Digital Turbine by 4.1% in 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 purchasing an additional 77,185 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock valued at $2,546,000 after purchasing an additional 755,707 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Digital Turbine during the 1st quarter valued at $2,177,000. Finally, Baader Bank Aktiengesellschaft bought a new position in Digital Turbine in the 2nd quarter worth $725,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APPS has been the topic of several research reports. Craig Hallum dropped their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Bank of America downgraded 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. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and a consensus 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.