Digital Turbine, Inc. (NASDAQ:APPS) Shares Sold by LPL Financial LLC

LPL Financial LLC lessened its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,999 shares of the software maker’s stock after selling 25,600 shares during the quarter. LPL Financial LLC owned 0.14% of Digital Turbine worth $2,073,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of APPS. Vanguard Group Inc. lifted its holdings in shares of Digital Turbine by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock worth $153,461,000 after purchasing an additional 843,856 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Digital Turbine in the fourth quarter worth $520,426,330,000. Rice Hall James & Associates LLC acquired a new stake in shares of Digital Turbine in the first quarter worth $21,530,000. BlackRock Inc. boosted its position in Digital Turbine by 4.5% during the first quarter. BlackRock Inc. now owns 10,426,749 shares of the software maker’s stock valued at $456,794,000 after purchasing an additional 453,301 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Digital Turbine during the second quarter valued at $7,316,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

Analysts Set New Price Targets

APPS has been the subject of a number of research reports. Macquarie cut Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Friday, February 17th. Craig Hallum reduced their price objective on Digital Turbine from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 9th. Oppenheimer cut Digital Turbine from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 9th. B. Riley reduced their price target on Digital Turbine from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 13th. Finally, StockNews.com started coverage on Digital Turbine in a research report on Thursday, May 18th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.17.

Digital Turbine Trading Up 4.2 %

Digital Turbine stock opened at $14.36 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day simple moving average is $11.98 and its 200-day simple moving average is $13.92. The firm has a market capitalization of $1.42 billion, a PE ratio of 29.31, a PEG ratio of 1.47 and a beta of 2.47. Digital Turbine, Inc. has a 52 week low of $9.13 and a 52 week high of $27.03.

Insider Transactions at Digital Turbine

In other Digital Turbine news, Director Robert M. Deutschman acquired 15,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $9.80 per share, for a total transaction of $147,000.00. Following the completion of the purchase, the director now owns 289,017 shares of the company’s stock, valued at approximately $2,832,366.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert M. Deutschman purchased 15,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $9.80 per share, for a total transaction of $147,000.00. Following the completion of the purchase, the director now directly owns 289,017 shares of the company’s stock, valued at approximately $2,832,366.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Gordon Stone III sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the sale, the chief executive officer now owns 1,647,789 shares in the company, valued at $17,367,696.06. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Digital Turbine Company Profile

(Get Rating)

Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).