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Strs Ohio reduced its holding in Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 84.5% in the third quarter, according to the company’s latest 13F filings with the U.S. Securities and Exchange Commission. The company owned his 7,600 shares of the software maker’s stock after selling his 41,300 shares during the period. Digital Turbine’s Strs Ohio holding was valued at $109,000 as of the latest SEC filing.
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Several other institutional investors have also increased or decreased their stakes in APPS recently. Rice Hall James & Associates LLC acquired new shares in Digital Turbine worth approximately $21,530,000 in the first quarter. Raymond James & Associates increased his Digital Turbine stake by 37.6% in the first quarter. Raymond James & Associates now owns 53,074 shares of the software maker worth $2,325,000 after purchasing an additional 14,493 of his shares last quarter. American Century Companies Inc. increased his stake in Digital Turbine by 39.4% in the first quarter. American Century Companies Inc. now owns 27,009 shares of the software maker worth $1,183,000 after he purchased an additional 7,634 shares last quarter. Cetera Advisor Networks LLC acquired a new stake in Digital Turbine worth approximately $324,000 in the first quarter. Finally, Rhumbline Advisers increased his Digital Turbine stock holdings by 3.4% in the first quarter. After purchasing an additional 7,843 shares last quarter, Rhumbline Advisers now owns 239,498 shares of the software maker’s stock valued at $10,492,000. 62.45% of the shares are owned by institutional investors.
Wall Street Analyst Predicts Growth
Several analysts recently commented on the APPS stock. B. Riley lowered his price target on Digital Turbine from his $33.00 to $28.00 and set a ‘buy’ rating in its research notes on Wednesday, Oct. 5. StockNews.com upgraded Digital Turbine’s rating from ‘sell’ to ‘pending’ in its research notes on Tuesday, November 22nd. Craig Hallum lowered his target price for digital turbines from his $60.00 to his $30.00 in a research note on Thursday, November 10th. Roth Capital lowered its target price for digital turbines from his $32.00 to $20.00 in a research note on Monday, Oct. 31. Finally, Bank of America undertook coverage on Digital Turbine in his Monday, October 17 research note. They issued a ‘buy’ rating and a price target of $24.00. One analyst rated the stock with a holding rating and four issued buy ratings on the company’s stock. According to MarketBeat.com data, the stock currently has an average rating of “moderate buy” with a consensus price target of $26.83.
Digital Turbine Trading Up 5.1%
APPS shares opened at $15.52 on Friday. His 50-day moving average price for this stock is $16.21 and his 200-day moving average price is $17.08. The company has a debt to equity ratio of 0.76, a quick ratio of 1.17 and a current ratio of 1.17. Digital Turbine, Inc. has a 52-week low of $10.65 and a 52-week high of $55.68. The company has a market capitalization of $1.54 billion, a price/earnings ratio of 29.85, a PEG ratio of 1.05 and a beta of 2.38.
Digital Turbine (NASDAQ:APPS – Get Rating) announced final results on Wednesday, November 9th. The software maker reported earnings of $0.28 per share for the quarter, beating analysts’ consensus forecast of $0.26 by $0.02. The company posted revenue of $174.86 million for the quarter, compared to consensus expectations of $173.67 million. Digital Turbine’s return on equity was 26.56% and net profit margin was 5.82%. Analysts expect Digital Turbine, Inc. to post 1.15 EPS for the current fiscal year.
digital turbine profile
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Digital Turbine, Inc. is a leading media and mobile communications company that helps provide end-to-end platform solutions to mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties. Committed to innovation. It operates through On Device Media (ODM), In App Media-AdColony (IAM-A), and In App Media-Fyber (IAM-F) segments.
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