Digital Turbine (NASDAQ:APPS – Get Rating) had its target price trimmed by B. Riley from $12.00 to $9.00 in a research note published on Monday morning, The Fly reports.
Other equities research analysts have also recently issued reports about the company. Macquarie cut Digital Turbine from an outperform rating to a neutral rating and set a $12.00 target price for the company. in a report on Friday, February 17th. Craig Hallum dropped their target price on Digital Turbine from $30.00 to $25.00 and set a buy rating for the company in a report on Thursday, February 9th. Oppenheimer cut Digital Turbine from an outperform rating to a market perform rating in a report on Thursday, February 9th. Finally, StockNews.com lowered Digital Turbine from a hold rating to a sell rating in a research report on Monday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Digital Turbine presently has an average rating of Hold and a consensus target price of $18.17.
Digital Turbine Price Performance
APPS opened at $9.82 on Monday. The stock has a 50-day moving average price of $14.14 and a 200-day moving average price of $15.25. Digital Turbine has a 12-month low of $9.13 and a 12-month high of $47.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $974.14 million, a P/E ratio of 20.04, a PEG ratio of 0.94 and a beta of 2.49.
Insider Buying and Selling at Digital Turbine
In other Digital Turbine news, CEO William Gordon Stone III sold 36,025 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $10.75, for a total transaction of $387,268.75. Following the completion of the transaction, the chief executive officer now owns 1,682,789 shares of the company’s stock, valued at approximately $18,089,981.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Alpha Paradigm Partners LLC bought a new position in shares of Digital Turbine in the 2nd quarter worth approximately $519,000. Advisors Asset Management Inc. raised its position in shares of Digital Turbine by 4.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 28,718 shares of the software maker’s stock worth $502,000 after acquiring an additional 1,343 shares in the last quarter. Texas Permanent School Fund increased its position in Digital Turbine by 1.4% during the 3rd quarter. Texas Permanent School Fund now owns 64,563 shares of the software maker’s stock valued at $930,000 after buying an additional 917 shares in the last quarter. Anderson Hoagland & Co. increased its position in Digital Turbine by 15.7% during the 3rd quarter. Anderson Hoagland & Co. now owns 73,487 shares of the software maker’s stock valued at $1,059,000 after buying an additional 9,961 shares in the last quarter. Finally, Money Concepts Capital Corp increased its position in Digital Turbine by 5,650.0% during the 3rd quarter. Money Concepts Capital Corp now owns 3,680 shares of the software maker’s stock valued at $53,000 after buying an additional 3,616 shares in the last quarter. Institutional investors own 62.45% of the company’s stock.
About Digital Turbine
Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).
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