Invesco Ltd. Cuts Position in Digital Turbine, Inc. $APPS

Invesco Ltd. trimmed its position in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 380,082 shares of the software maker’s stock after selling 21,569 shares during the period. Invesco Ltd. owned about 0.36% of Digital Turbine worth $1,032,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. P.A.W. Capital Corp increased its stake in shares of Digital Turbine by 175.0% during the first quarter. P.A.W. Capital Corp now owns 550,000 shares of the software maker’s stock worth $1,493,000 after buying an additional 350,000 shares during the period. Bank of America Corp DE increased its stake in shares of Digital Turbine by 55.6% during the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock worth $3,427,000 after buying an additional 724,297 shares during the period. Vanguard Group Inc. increased its stake in shares of Digital Turbine by 11.2% during the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker’s stock worth $24,080,000 after buying an additional 893,035 shares during the period. AIGH Capital Management LLC purchased a new stake in shares of Digital Turbine during the first quarter worth approximately $1,170,000. Finally, Deutsche Bank AG purchased a new stake in shares of Digital Turbine during the first quarter worth approximately $212,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Stock Performance

Shares of APPS opened at $4.15 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63. The firm has a market cap of $449.78 million, a PE ratio of -5.39, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The company’s 50 day simple moving average is $4.98 and its 200-day simple moving average is $4.25. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.77.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $130.93 million for the quarter, compared to analysts’ expectations of $121.94 million. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%. Digital Turbine has set its FY 2026 guidance at EPS. As a group, equities analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

APPS has been the topic of a number of recent research reports. Bank of America upgraded shares of Digital Turbine from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $4.50 to $5.50 in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Craig Hallum increased their price target on shares of Digital Turbine from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.17.

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.