Digital Turbine, Inc. (NASDAQ:APPS) CEO Sells $387,268.75 in Stock

Posted by Defense World Staff on Mar 5th, 2023

Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) CEO William Gordon Stone III sold 36,025 shares of Digital Turbine stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $10.75, for a total transaction of $387,268.75. Following the sale, the chief executive officer now directly owns 1,682,789 shares in the company, valued at approximately $18,089,981.75. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Digital Turbine Trading Up 2.9 %

Shares of Digital Turbine stock opened at $11.07 on Friday. Digital Turbine, Inc. has a 52-week low of $10.51 and a 52-week high of $47.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.70. The company’s 50-day simple moving average is $14.67 and its 200-day simple moving average is $15.87. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.04 and a beta of 2.49.

Digital Turbine (NASDAQ:APPS – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The software maker reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). The company had revenue of $162.31 million during the quarter, compared to analyst estimates of $184.94 million. Digital Turbine had a return on equity of 21.20% and a net margin of 7.14%. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently bought and sold shares of the business. Rice Hall James & Associates LLC acquired a new position in Digital Turbine in the first quarter worth $21,530,000. Raymond James & Associates boosted its holdings in shares of Digital Turbine by 37.6% during 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 during the period. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 7,634 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Digital Turbine in the first quarter worth about $324,000. Finally, Rhumbline Advisers lifted its holdings in 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 purchasing an additional 7,843 shares during the period. Institutional investors and hedge funds own 62.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APPS shares. 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 research report on Friday, February 17th. Craig Hallum cut their price objective on Digital Turbine from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 9th. StockNews.com downgraded Digital Turbine from a “hold” rating to a “sell” rating in a research note on Monday, February 13th. Oppenheimer cut shares of Digital Turbine from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 9th. Finally, B. Riley downgraded Digital Turbine from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $16.00 in a research report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Digital Turbine has an average rating of “Hold” and a consensus target price of $19.33.

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).