Digital Turbine, Inc. (NASDAQ:APPS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 65.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,442 shares of the software maker’s stock after selling 47,577 shares during the period. SG Americas Securities LLC’s holdings in Digital Turbine were worth $175,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of APPS. Norges Bank acquired a new position in shares of Digital Turbine in the fourth quarter valued at approximately $13,125,000. Vanguard Group Inc. increased its holdings in shares of Digital Turbine by 8.6% in the third quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock valued at $153,461,000 after purchasing an additional 843,856 shares during the period. Dimensional Fund Advisors LP grew its holdings in Digital Turbine by 178.1% during the first quarter. Dimensional Fund Advisors LP now owns 921,215 shares of the software maker’s stock worth $11,385,000 after acquiring an additional 589,981 shares during the period. Assenagon Asset Management S.A. acquired a new position in Digital Turbine during the third quarter worth $3,557,000. Finally, Point72 Asset Management L.P. acquired a new position in Digital Turbine during the second quarter worth $4,786,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Analysts Set New Price Targets

APPS has been the topic of a number of recent analyst reports. Craig Hallum dropped their price objective on Digital Turbine from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Roth Mkm decreased their target price on Digital Turbine from $5.50 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Finally, StockNews.com upgraded Digital Turbine from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.50.

Digital Turbine Stock Down 8.3 %

Shares of NASDAQ:APPS opened at $1.87 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.84. Digital Turbine, Inc. has a 52-week low of $1.87 and a 52-week high of $14.61. The stock’s fifty day simple moving average is $3.05 and its 200-day simple moving average is $4.75. The company has a market capitalization of $190.78 million, a P/E ratio of -0.95, a P/E/G ratio of 4.60 and a beta of 2.48.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 7th. The software maker reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. The business had revenue of $142.63 million for the quarter, compared to analysts’ expectations of $146.45 million. As a group, equities research analysts forecast that Digital Turbine, Inc. will post 0.16 earnings per share for the current fiscal year.

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.