New York State Teachers Retirement System lessened its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS – Free Report) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,317 shares of the software maker’s stock after selling 17,874 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Digital Turbine worth $1,293,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Digital Turbine by 2.4% during the 3rd quarter. BlackRock Inc. now owns 14,652,447 shares of the software maker’s stock valued at $211,141,000 after buying an additional 346,489 shares during the last quarter. Vanguard Group Inc. increased its position in Digital Turbine by 8.6% during the third quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock valued at $153,461,000 after acquiring an additional 843,856 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in Digital Turbine by 28.1% in the first quarter. Granahan Investment Management LLC now owns 4,408,860 shares of the software maker’s stock valued at $54,494,000 after acquiring an additional 968,396 shares during the period. State Street Corp boosted its position in Digital Turbine by 8.3% in the first quarter. State Street Corp now owns 3,480,223 shares of the software maker’s stock worth $43,015,000 after purchasing an additional 267,208 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Digital Turbine by 13.4% during the 1st quarter. American Century Companies Inc. now owns 2,428,467 shares of the software maker’s stock valued at $30,016,000 after purchasing an additional 287,180 shares during the period. 64.64% of the stock is currently owned by institutional investors.
Digital Turbine Price Performance
Digital Turbine stock opened at $5.09 on Wednesday. Digital Turbine, Inc. has a 52-week low of $4.86 and a 52-week high of $20.40. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average is $6.98 and its 200 day moving average is $9.34. The company has a market cap of $511.65 million, a price-to-earnings ratio of -72.70, a PEG ratio of 2.04 and a beta of 2.56.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on APPS. StockNews.com raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Bank of America lowered Digital Turbine from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $8.00 in a report on Thursday, September 14th. Finally, TheStreet downgraded Digital Turbine from a “c” rating to a “d+” rating in a research note on Wednesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine presently has an average rating of “Hold” and an average target price of $13.17.
View Our Latest Stock Analysis on Digital Turbine
Insider Activity
In other news, CEO William Gordon Stone III sold 95,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $6.73, for a total transaction of $639,350.00. Following the transaction, the chief executive officer now owns 1,589,654 shares of the company’s stock, valued at approximately $10,698,371.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert M. Deutschman acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $6.44 per share, with a total value of $128,800.00. Following the completion of the purchase, the director now directly owns 350,055 shares in the company, valued at $2,254,354.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Gordon Stone III sold 95,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $6.73, for a total value of $639,350.00. Following the transaction, the chief executive officer now directly owns 1,589,654 shares in the company, valued at approximately $10,698,371.42. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
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.
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