Swiss National Bank Acquires 5,600 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Swiss National Bank raised its position in Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,700 shares of the software maker’s stock after acquiring an additional 5,600 shares during the period. Swiss National Bank owned approximately 0.23% of Digital Turbine worth $3,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of APPS. Rice Hall James & Associates LLC acquired a new stake in Digital Turbine in the first quarter valued at approximately $21,530,000. Raymond James & Associates boosted its stake in Digital Turbine by 37.6% in the first quarter. Raymond James & Associates now owns 53,074 shares of the software maker’s stock valued at $2,325,000 after acquiring an additional 14,493 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Digital Turbine by 39.4% in the first quarter. American Century Companies Inc. now owns 27,009 shares of the software maker’s stock worth $1,183,000 after buying an additional 7,634 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Digital Turbine in the first quarter worth $324,000. Finally, Rhumbline Advisers raised its holdings in shares of Digital Turbine by 3.4% in the first quarter. Rhumbline Advisers now owns 239,498 shares of the software maker’s stock worth $10,492,000 after buying an additional 7,843 shares during the last quarter. 62.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APPS shares. Oppenheimer cut shares of Digital Turbine from an “outperform” rating to a “market perform” rating in a report on Thursday, February 9th. StockNews.com started coverage on shares of Digital Turbine in a report on Thursday. They issued a “sell” rating for the company. Macquarie cut shares of Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price target for the company. in a report on Friday, February 17th. B. Riley decreased their price target on shares of Digital Turbine from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 13th. Finally, Craig Hallum reduced their target price on shares of Digital Turbine from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.17.

Insider Buying and Selling at Digital Turbine

In other news, Director Robert M. Deutschman acquired 15,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was bought at an average price of $9.80 per share, with a total value of $147,000.00. Following the completion of the acquisition, the director now owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William Gordon Stone III sold 35,000 shares of Digital Turbine stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $10.54, for a total value of $368,900.00. Following the sale, the chief executive officer now owns 1,647,789 shares in the company, valued at $17,367,696.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert M. Deutschman bought 15,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $9.80 per share, for a total transaction of $147,000.00. Following the transaction, the director now owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The disclosure for this purchase can be found here. 5.50% of the stock is owned by corporate insiders.

Digital Turbine Stock Down 1.7 %

APPS opened at $13.78 on Monday. Digital Turbine, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $27.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.18 and a current ratio of 1.18. The company has a fifty day moving average of $11.89 and a two-hundred day moving average of $13.91. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.50 and a beta of 2.47.

Digital Turbine Company Profile

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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).