Swiss National Bank Decreases Position in Digital Turbine, Inc. (NASDAQ:APPS)

Swiss National Bank trimmed its holdings in Digital Turbine, Inc. (NASDAQ:APPS) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,100 shares of the software maker’s stock after selling 23,600 shares during the period. Swiss National Bank owned approximately 0.20% of Digital Turbine worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in Digital Turbine by 1.8% in the first quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock worth $1,199,000 after purchasing an additional 495 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Digital Turbine by 1.4% in the first quarter. Yousif Capital Management LLC now owns 46,436 shares of the software maker’s stock worth $2,034,000 after purchasing an additional 630 shares during the last quarter. Royal Bank of Canada increased its position in shares of Digital Turbine by 1.2% in the third quarter. Royal Bank of Canada now owns 56,945 shares of the software maker’s stock valued at $820,000 after acquiring an additional 674 shares during the period. Cetera Investment Advisers increased its position in shares of Digital Turbine by 5.5% in the first quarter. Cetera Investment Advisers now owns 13,123 shares of the software maker’s stock valued at $575,000 after acquiring an additional 687 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Digital Turbine by 0.6% in the third quarter. Alliancebernstein L.P. now owns 142,121 shares of the software maker’s stock valued at $2,048,000 after acquiring an additional 846 shares during the period. 64.64% of the stock is owned by institutional investors.

Digital Turbine Price Performance

APPS stock opened at $8.43 on Wednesday. The stock has a market cap of $847.38 million, a PE ratio of -120.41, a P/E/G ratio of 2.23 and a beta of 2.49. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Digital Turbine, Inc. has a 12 month low of $7.72 and a 12 month high of $20.42. The company has a 50-day moving average price of $9.70 and a 200 day moving average price of $10.57.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $146.37 million during the quarter, compared to analyst estimates of $143.06 million. Digital Turbine had a negative net margin of 1.03% and a positive return on equity of 10.47%. Equities research analysts anticipate that Digital Turbine, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APPS. Bank of America reduced their price target on shares of Digital Turbine from $16.00 to $13.00 in a research report on Thursday, May 25th. Roth Capital cut shares of Digital Turbine from a “buy” rating to a “neutral” rating in a report on Thursday, May 25th. StockNews.com assumed coverage on shares of Digital Turbine in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Craig Hallum dropped their target price on shares of Digital Turbine from $25.00 to $20.00 in a report on Thursday, May 25th. Finally, Roth Mkm cut shares of Digital Turbine from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $10.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and an average price target of $14.71.

Digital Turbine 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.