Walleye Capital LLC acquired a new position in shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 49,133 shares of the software maker's stock, valued at approximately $2,153,000. Walleye Capital LLC owned approximately 0.05% of Digital Turbine as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Digital Turbine by 1.5% during the fourth quarter. State Street Corp now owns 2,807,074 shares of the software maker's stock worth $171,203,000 after buying an additional 41,504 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in Digital Turbine during the first quarter worth approximately $657,000. Gotham Asset Management LLC increased its stake in Digital Turbine by 46.1% during the fourth quarter. Gotham Asset Management LLC now owns 15,802 shares of the software maker's stock worth $964,000 after acquiring an additional 4,988 shares during the last quarter. Diametric Capital LP acquired a new stake in Digital Turbine during the fourth quarter worth $342,000. Finally, Rhumbline Advisers increased its stake in Digital Turbine by 1.1% during the fourth quarter. Rhumbline Advisers now owns 231,655 shares of the software maker's stock worth $14,129,000 after acquiring an additional 2,545 shares during the last quarter. Hedge funds and other institutional investors own 65.70% of the company's stock.
Get Digital Turbine alerts:Wall Street Analyst Weigh In
Several research firms have issued reports on APPS. Macquarie cut their target price on Digital Turbine from $70.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, June 1st. Craig Hallum cut their target price on Digital Turbine to $60.00 in a research note on Monday, August 15th. B. Riley raised their target price on Digital Turbine from $29.00 to $33.00 in a research note on Tuesday, August 9th. StockNews.com raised Digital Turbine from a "sell" rating to a "hold" rating in a research note on Wednesday, August 17th. Finally, Oppenheimer dropped their price objective on Digital Turbine from $117.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, June 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.50.
Digital Turbine Trading Down 6.8 %
APPS opened at $16.48 on Friday. Digital Turbine, Inc. has a 12 month low of $14.43 and a 12 month high of $93.98. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 47.09, a PEG ratio of 1.47 and a beta of 2.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $19.96 and a 200 day moving average price of $26.41.Digital Turbine (NASDAQ:APPS – Get Rating) last released its earnings results on Monday, August 8th. The software maker reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Digital Turbine had a return on equity of 29.78% and a net margin of 3.42%. The firm had revenue of $188.63 million during the quarter, compared to analysts' expectations of $184.68 million. Sell-side analysts expect that Digital Turbine, Inc. will post 1.23 earnings per share for the current fiscal year.
About Digital Turbine
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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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