Robert M. Deutschman Acquires 20,000 Shares of Digital Turbine, Inc. (NASDAQ:APPS) Stock

Digital Turbine, Inc. (NASDAQ:APPS) Director Robert M. Deutschman purchased 20,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were purchased at an average price of $1.23 per share, with a total value of $24,600.00. Following the acquisition, the director now directly owns 591,216 shares in the company, valued at $727,195.68. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Digital Turbine Stock Up 3.4 %

Shares of APPS opened at $1.52 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $7.33. The firm has a fifty day moving average price of $2.73 and a 200 day moving average price of $2.46.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APPS. Jacobs Levy Equity Management Inc. purchased a new position in shares of Digital Turbine during the first quarter worth approximately $2,177,000. AQR Capital Management LLC boosted its stake in Digital Turbine by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock worth $2,546,000 after purchasing an additional 755,707 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in Digital Turbine during the 2nd quarter worth $725,000. Acadian Asset Management LLC acquired a new position in Digital Turbine in the second quarter valued at $594,000. Finally, Assenagon Asset Management S.A. acquired a new position in Digital Turbine in the second quarter valued at $589,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Analysts Set New Price Targets

APPS has been the subject of a number of analyst reports. Macquarie lowered their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Craig Hallum lowered their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.38.

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.