Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman Buys 100,000 Shares

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was bought 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 owns 571,216 shares of the company’s stock, valued at $805,414.56. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Digital Turbine Stock Down 2.5 %

Shares of APPS traded down $0.04 during midday trading on Tuesday, hitting $1.36. 5,698,278 shares of the company’s stock traded hands, compared to its average volume of 3,069,571. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $141.07 million, a price-to-earnings ratio of -0.47, a price-to-earnings-growth ratio of 4.51 and a beta of 2.59. Digital Turbine, Inc. has a 1 year low of $1.31 and a 1 year high of $7.33. The firm’s fifty day moving average is $2.96 and its 200-day moving average is $2.50.

Digital Turbine (NASDAQ:APPS) last issued its quarterly 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 business 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%. Digital Turbine’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. As a group, sell-side analysts anticipate that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

APPS has been the subject of several research analyst reports. Craig Hallum decreased their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Macquarie dropped 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.

Institutional Trading of Digital Turbine

Several large investors have recently added to or reduced their stakes in APPS. Blue Trust Inc. increased 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 acquired a new stake in shares of Digital Turbine in the first quarter worth $28,000. Ballentine Partners LLC acquired a new position in Digital Turbine during the third quarter valued at $43,000. Creative Planning purchased a new stake in Digital Turbine in the third quarter valued at $57,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Digital Turbine during the 1st quarter worth about $55,000. Hedge funds and other 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.