Robert M. Deutschman Acquires 20,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS) Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 20,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $1.23 per share, for a total transaction of $24,600.00. Following the acquisition, the director now owns 591,216 shares in the company, valued at approximately $727,195.68. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Digital Turbine Trading Up 2.8 %

Shares of APPS opened at $1.47 on Friday. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $7.33. The firm has a market capitalization of $152.48 million, a price-to-earnings ratio of -0.50, a PEG ratio of 3.74 and a beta of 2.59. The firm’s 50-day moving average price is $2.75 and its 200-day moving average price is $2.47. 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 earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $118.70 million for 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 firm’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Craig Hallum lowered their target price on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Macquarie decreased their price target 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. Finally, Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine currently has a consensus rating of “Hold” and an average target price of $2.38.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors have recently added to or reduced their stakes in APPS. The Manufacturers Life Insurance Company raised its holdings in Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the last quarter. Blue Trust Inc. raised 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 acquiring an additional 4,167 shares during the last quarter. Rhumbline Advisers lifted its position in Digital Turbine by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock valued at $254,000 after acquiring an additional 5,734 shares in the last quarter. Point72 DIFC Ltd lifted its position in Digital Turbine by 18.4% in the 2nd quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock valued at $74,000 after acquiring an additional 6,936 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Digital Turbine by 37.7% during the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock valued at $82,000 after purchasing an additional 7,266 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.