United Services Automobile Association lifted its stake in shares of Digital Turbine Inc (NASDAQ:APPS) by 143.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,382,947 shares of the software maker’s stock after buying an additional 815,677 shares during the quarter. United Services Automobile Association owned 1.80% of Digital Turbine worth $2,088,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in APPS. Millennium Management LLC raised its holdings in shares of Digital Turbine by 397.9% during the 1st quarter. Millennium Management LLC now owns 1,549,547 shares of the software maker’s stock valued at $3,115,000 after buying an additional 1,238,351 shares during the period. Granahan Investment Management Inc. MA raised its holdings in shares of Digital Turbine by 143.8% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 1,400,126 shares of the software maker’s stock valued at $2,114,000 after buying an additional 825,915 shares during the period. P.A.W. Capital Corp raised its holdings in shares of Digital Turbine by 71.4% during the 2nd quarter. P.A.W. Capital Corp now owns 1,200,000 shares of the software maker’s stock valued at $1,812,000 after buying an additional 500,000 shares during the period. BDO Wealth Advisors LLC purchased a new stake in shares of Digital Turbine during the 2nd quarter valued at about $642,000. Finally, EAM Global Investors LLC purchased a new stake in shares of Digital Turbine during the 1st quarter valued at about $785,000. Institutional investors and hedge funds own 26.67% of the company’s stock.
APPS stock opened at $1.33 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 0.80. Digital Turbine Inc has a 52-week low of $1.12 and a 52-week high of $2.59.
Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative return on equity of 16.50% and a negative net margin of 44.22%. The company had revenue of $22.11 million for the quarter, compared to the consensus estimate of $22.98 million. Sell-side analysts expect that Digital Turbine Inc will post -0.04 earnings per share for the current year.
In other Digital Turbine news, Director Roy H. Chestnutt acquired 20,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $1.32 per share, for a total transaction of $26,400.00. Following the acquisition, the director now directly owns 66,763 shares of the company’s stock, valued at $88,127.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert M. Deutschman acquired 25,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were acquired at an average price of $1.27 per share, for a total transaction of $31,750.00. Following the completion of the acquisition, the director now directly owns 292,550 shares in the company, valued at $371,538.50. The disclosure for this purchase can be found here. 6.20% of the stock is owned by insiders.
Several equities research analysts recently commented on APPS shares. Zacks Investment Research upgraded Digital Turbine from a “sell” rating to a “buy” rating and set a $1.50 target price on the stock in a report on Tuesday, August 7th. National Securities reiterated a “buy” rating and set a $3.50 target price on shares of Digital Turbine in a report on Monday, August 13th. Finally, ValuEngine downgraded Digital Turbine from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $2.60.
Digital Turbine Company Profile
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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