USA Financial Portformulas Corp Purchases New Holdings in Digital Turbine Inc (NASDAQ:APPS)

USA Financial Portformulas Corp purchased a new stake in shares of Digital Turbine Inc (NASDAQ:APPS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,952 shares of the software maker’s stock, valued at approximately $228,000. A number of other large investors have […]

USA Financial Portformulas Corp purchased a new stake in shares of Digital Turbine Inc (NASDAQ:APPS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,952 shares of the software maker’s stock, valued at approximately $228,000.

A number of other large investors have also recently modified their holdings of APPS. Swiss National Bank grew its stake in Digital Turbine by 4.7% in the 1st quarter. Swiss National Bank now owns 149,800 shares of the software maker’s stock worth $646,000 after acquiring an additional 6,700 shares in the last quarter. State Street Corp boosted its stake in shares of Digital Turbine by 5.8% during the first quarter. State Street Corp now owns 1,955,369 shares of the software maker’s stock valued at $8,428,000 after purchasing an additional 107,577 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Digital Turbine by 25.0% during the first quarter. Victory Capital Management Inc. now owns 23,552 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,716 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Digital Turbine by 196.3% during the first quarter. Citigroup Inc. now owns 61,032 shares of the software maker’s stock valued at $263,000 after purchasing an additional 40,431 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Digital Turbine by 106.4% during the first quarter. BNP Paribas Arbitrage SA now owns 24,344 shares of the software maker’s stock valued at $105,000 after purchasing an additional 12,551 shares in the last quarter. Institutional investors own 60.94% of the company’s stock.

NASDAQ APPS opened at $36.43 on Friday. The company has a fifty day simple moving average of $28.74 and a two-hundred day simple moving average of $14.54. The stock has a market cap of $3.19 billion, a P/E ratio of 130.11, a P/E/G ratio of 1.80 and a beta of 1.95. Digital Turbine Inc has a 12-month low of $3.48 and a 12-month high of $37.31. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. The business had revenue of $59.01 million during the quarter, compared to analysts’ expectations of $48.49 million. Digital Turbine had a net margin of 15.35% and a return on equity of 31.91%. As a group, sell-side analysts forecast that Digital Turbine Inc will post 0.4 earnings per share for the current year.

In other Digital Turbine news, CEO William Gordon Stone III sold 84,585 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $24.10, for a total value of $2,038,498.50. Following the completion of the transaction, the chief executive officer now owns 1,035,989 shares of the company’s stock, valued at $24,967,334.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.20% of the company’s stock.

A number of research firms have recently issued reports on APPS. BidaskClub upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday. Oppenheimer reissued a “buy” rating and set a $23.00 target price (up previously from $14.00) on shares of Digital Turbine in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH raised shares of Digital Turbine from a “neutral” rating to a “buy” rating in a research report on Thursday, August 6th. Finally, Roth Capital reissued a “buy” rating and set a $25.00 target price (up previously from $13.00) on shares of Digital Turbine in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Digital Turbine currently has an average rating of “Buy” and an average price target of $24.91.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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