Assenagon Asset Management S.A. Decreases Stock Holdings in Digital Turbine, Inc. (NASDAQ:APPS)

Assenagon Asset Management S.A. trimmed its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 79.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,316 shares of the software maker’s stock after selling 119,088 shares during the period. Assenagon Asset Management S.A.’s holdings in Digital Turbine were worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Plancorp LLC purchased a new stake in shares of Digital Turbine during the 4th quarter worth approximately $35,000. Cetera Investment Advisers raised its holdings in shares of Digital Turbine by 94.3% during the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock worth $46,000 after acquiring an additional 13,317 shares in the last quarter. ProShare Advisors LLC raised its holdings in Digital Turbine by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker’s stock valued at $46,000 after buying an additional 8,892 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Digital Turbine during the 4th quarter valued at $54,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Craig Hallum increased their price target on Digital Turbine from $4.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday.

Digital Turbine Trading Down 14.5%

APPS stock opened at $5.76 on Friday. The company has a market capitalization of $616.20 million, a PE ratio of -6.47 and a beta of 2.58. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $7.77. The firm’s 50-day moving average is $4.26 and its 200 day moving average is $3.31. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. The company had revenue of $119.15 million for the quarter, compared to analysts’ expectations of $116.64 million. During the same period in the prior year, the business earned $0.12 EPS. On average, research analysts anticipate that Digital Turbine, Inc. will post -0.03 EPS for the current 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.