Digital Turbine, Inc. (NASDAQ:APPS) CEO Sells $211,500.00 in Stock

Digital Turbine, Inc. (NASDAQ:APPS) CEO William Gordon Stone III sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $7.05, for a total value of $211,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,739,654 shares in the company, valued at approximately $12,264,560.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

William Gordon Stone III also recently made the following trade(s):

• On Friday, September 15th, William Gordon Stone III sold 95,000 shares of Digital Turbine stock. The stock was sold at an average price of $6.73, for a total value of $639,350.00.

Digital Turbine Trading Up 0.7 %

Digital Turbine stock opened at $6.89 on Monday. The stock has a 50-day moving average of $9.39 and a two-hundred day moving average of $10.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.22. Digital Turbine, Inc. has a one year low of $6.41 and a one year high of $20.40. The stock has a market cap of $692.58 million, a PE ratio of -98.41, a price-to-earnings-growth ratio of 1.72 and a beta of 2.49.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on APPS shares. Roth Mkm downgraded 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 report on Thursday, May 25th. TheStreet downgraded Digital Turbine from a “c” rating to a “d+” rating in a research report on Wednesday, August 9th. Bank of America cut Digital Turbine from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $8.00 in a research note on Thursday. Roth Capital cut Digital Turbine from a “buy” rating to a “neutral” rating in a research note on Thursday, May 25th. Finally, StockNews.com began coverage on Digital Turbine in a research note on Thursday, August 17th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Digital Turbine by 2.4% in the third quarter. BlackRock Inc. now owns 14,652,447 shares of the software maker’s stock valued at $211,141,000 after purchasing an additional 346,489 shares during the period. Vanguard Group Inc. grew its holdings in Digital Turbine by 8.6% during the third quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock worth $153,461,000 after acquiring an additional 843,856 shares during the period. Granahan Investment Management LLC grew its holdings in Digital Turbine by 28.1% during the first quarter. Granahan Investment Management LLC now owns 4,408,860 shares of the software maker’s stock worth $54,494,000 after acquiring an additional 968,396 shares during the period. State Street Corp grew its holdings in Digital Turbine by 5.6% during the second quarter. State Street Corp now owns 3,675,648 shares of the software maker’s stock worth $34,110,000 after acquiring an additional 195,425 shares during the period. Finally, American Century Companies Inc. grew its holdings in Digital Turbine by 13.4% during the first quarter. American Century Companies Inc. now owns 2,428,467 shares of the software maker’s stock worth $30,016,000 after acquiring an additional 287,180 shares during the period. 64.64% of the stock is owned by institutional investors and hedge funds.

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.