Insider Buying: Digital Turbine, Inc. (NASDAQ:APPS) Director Acquires 100,000 Shares of Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 100,000 shares of Digital Turbine stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $1.41 per share, with a total value of $141,000.00. Following the completion of the transaction, the director now directly owns 571,216 shares in the company, valued at approximately $805,414.56. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Digital Turbine Price Performance

APPS opened at $1.49 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. Digital Turbine, Inc. has a 1 year low of $1.31 and a 1 year high of $7.33. The stock’s 50 day simple moving average is $2.90 and its 200 day simple moving average is $2.49. The firm has a market cap of $154.56 million, a price-to-earnings ratio of -0.51, a PEG ratio of 4.20 and a beta of 2.59.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same period in the previous year, the company earned $0.04 EPS. The company’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, analysts predict that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Institutional Trading of Digital Turbine

Several large investors have recently modified their holdings of APPS. Blue Trust Inc. lifted its holdings in Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after buying an additional 4,167 shares during the period. Quadrature Capital Ltd purchased a new stake in Digital Turbine in the first quarter worth $28,000. Ballentine Partners LLC bought a new stake in Digital Turbine in the third quarter valued at $43,000. SG Americas Securities LLC purchased a new position in Digital Turbine during the 2nd quarter valued at $46,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Digital Turbine in the 1st quarter worth $55,000. 63.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on APPS. Craig Hallum lowered their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Macquarie reduced their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th.

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.