Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) Director Robert M. Deutschman purchased 20,000 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $1.23 per share, for a total transaction of $24,600.00. Following the completion of the acquisition, the director now owns 591,216 shares of the company's stock, valued at approximately $727,195.68. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Digital Turbine Price Performance
NASDAQ APPS opened at $1.43 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm's fifty day moving average price is $2.75 and its two-hundred day moving average price is $2.47. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33.
Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $118.70 million for the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.04 EPS.
Institutional Investors Weigh In On Digital Turbine
Do this Before Elon’s Reveal on January 22nd
From Brownstone Research | Ad
Elon’s newest tech could pay you an extra $30,000 a year — while you sleep.
It’s smaller than a quarter but designed to power a $9 trillion AI revolution.
And I’ve identified a little-known supplier Elon is depending on to make it all happen.
I urge you to watch this video now.
Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Digital Turbine by 8.4% in the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker's stock valued at $7,169,000 after purchasing an additional 181,032 shares during the period. Rice Hall James & Associates LLC grew its stake in Digital Turbine by 4.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker's stock valued at $6,051,000 after buying an additional 77,185 shares during the last quarter. AQR Capital Management LLC grew its stake in Digital Turbine by 97.1% in 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 buying an additional 755,707 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Digital Turbine in the 1st quarter valued at about $2,177,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Digital Turbine during the second quarter worth approximately $725,000. Institutional investors and hedge funds own 63.66% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on APPS. Bank of America lowered Digital Turbine from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Craig Hallum lowered their price objective 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. Finally, Macquarie reduced their target price on shares of Digital Turbine from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $2.38.
Read Our Latest Report on Digital Turbine
Digital Turbine Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
