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 %
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
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).
- Get a free copy of the StockNews.com research report on Digital Turbine (APPS)
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