Digital Turbine, Inc. (NASDAQ:APPS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 3.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 776,081 shares of the software maker’s stock after selling 29,203 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Digital Turbine were worth $2,383,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of APPS. AQR Capital Management LLC raised its holdings in Digital Turbine by 97.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,533,969 shares of the software maker’s stock valued at $2,546,000 after acquiring an additional 755,707 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Digital Turbine during the second quarter valued at about $594,000. Assenagon Asset Management S.A. acquired a new stake in shares of Digital Turbine during the second quarter valued at about $589,000. Lindbrook Capital LLC acquired a new position in Digital Turbine in the third quarter worth about $405,000. Finally, XTX Topco Ltd acquired a new position in Digital Turbine in the second quarter worth about $211,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Trading Up 0.7 %

Digital Turbine stock opened at $1.43 on Monday. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $148.33 million, a price-to-earnings ratio of -0.48 and a beta of 2.37. The firm’s 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.37.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data 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). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, research analysts predict that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity

In other Digital Turbine news, Director Robert M. Deutschman acquired 100,000 shares of Digital Turbine stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the purchase, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 127,000 shares of company stock worth $175,610 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPS. Macquarie cut their target price on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Bank of America cut Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the company from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Craig Hallum dropped their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. 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 stock currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Profile

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.