SG Americas Securities LLC Sells 10,915 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

SG Americas Securities LLC reduced its stake in shares of Digital Turbine, Inc. (NASDAQ:APPSGet Rating) by 36.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,039 shares of the software maker’s stock after selling 10,915 shares during the period. SG Americas Securities LLC’s holdings in Digital Turbine were worth $834,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APPS. First National Bank of Hutchinson boosted its stake in shares of Digital Turbine by 3.3% in the 4th quarter. First National Bank of Hutchinson now owns 8,724 shares of the software maker’s stock worth $532,000 after buying an additional 280 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Digital Turbine by 1.5% in the 4th quarter. American Century Companies Inc. now owns 19,375 shares of the software maker’s stock worth $1,182,000 after buying an additional 292 shares during the last quarter. MBM Wealth Consultants LLC boosted its stake in shares of Digital Turbine by 8.8% in the 4th quarter. MBM Wealth Consultants LLC now owns 3,978 shares of the software maker’s stock worth $243,000 after buying an additional 323 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Digital Turbine by 2.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,175 shares of the software maker’s stock worth $533,000 after buying an additional 337 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Digital Turbine by 1.8% in the 4th quarter. State of Michigan Retirement System now owns 22,300 shares of the software maker’s stock worth $1,360,000 after buying an additional 400 shares during the last quarter. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on APPS shares. B. Riley started coverage on Digital Turbine in a research note on Tuesday, June 28th. They issued a “buy” rating and a $29.00 target price on the stock. Macquarie dropped their price objective on Digital Turbine from $70.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 1st. Oppenheimer dropped their price objective on Digital Turbine from $117.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 1st. Finally, Craig Hallum dropped their price objective on Digital Turbine from $105.00 to $85.00 in a research note on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Digital Turbine Trading Up 0.1 %

NASDAQ:APPS opened at $20.10 on Tuesday. The company has a market cap of $1.98 billion, a P/E ratio of 59.12, a P/E/G ratio of 0.53 and a beta of 2.41. The stock’s fifty day moving average price is $18.84 and its two-hundred day moving average price is $32.09. Digital Turbine, Inc. has a 1 year low of $14.43 and a 1 year high of $93.98. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07.

Digital Turbine (NASDAQ:APPSGet Rating) last posted its earnings results on Tuesday, May 31st. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $184.14 million for the quarter, compared to the consensus estimate of $336.45 million. Digital Turbine had a return on equity of 30.00% and a net margin of 3.28%. The business’s quarterly revenue was up 93.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. As a group, analysts expect that Digital Turbine, Inc. will post 1.4 EPS for the current year.

About Digital Turbine

(Get Rating)

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 three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber. 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 sponsored and editorial content media.

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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