Charles Schwab Investment Management Inc. Reduces Stock Position in Digital Turbine, Inc. (NASDAQ:APPS)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 776,081 shares of the software maker’s stock after selling 29,203 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of Digital Turbine worth $2,383,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Blue Trust Inc. raised its position in Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares in the last quarter. Ballentine Partners LLC bought a new stake in Digital Turbine during the 3rd quarter valued at $43,000. SG Americas Securities LLC bought a new stake in Digital Turbine during the 2nd quarter valued at $46,000. Creative Planning bought a new stake in Digital Turbine during the 3rd quarter valued at $57,000. Finally, The Manufacturers Life Insurance Company raised its position in Digital Turbine by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock valued at $68,000 after purchasing an additional 3,695 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Insider Transactions at Digital Turbine

In related news, Director Robert M. Deutschman purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the transaction, the director now directly owns 571,216 shares of the company’s stock, valued at approximately $805,414.56. The trade was a 21.22 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have bought 127,000 shares of company stock worth $175,610. Corporate insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APPS shares. Craig Hallum decreased their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Macquarie reduced their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine has an average rating of “Hold” and an average target price of $2.38.

Digital Turbine Price Performance

Shares of Digital Turbine stock opened at $1.43 on Monday. The business has a 50 day simple moving average of $2.28 and a two-hundred day simple moving average of $2.37. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.33. The stock has a market capitalization of $148.33 million, a P/E ratio of -0.48 and a beta of 2.37. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. Digital Turbine’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. As a group, analysts predict that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

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.