Barclays PLC Purchases 97,196 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Barclays PLC raised its position in Digital Turbine, Inc. (NASDAQ:APPS) by 62.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 252,673 shares of the software maker’s stock after buying an additional 97,196 shares during the period. Barclays PLC’s holdings in Digital Turbine were worth $776,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Digital Turbine by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after buying an additional 181,032 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Digital Turbine by 33.8% in the 3rd quarter. XTX Topco Ltd now owns 169,868 shares of the software maker’s stock worth $521,000 after purchasing an additional 42,954 shares during the last quarter. Centiva Capital LP bought a new position in shares of Digital Turbine in the 3rd quarter worth $262,000. Intech Investment Management LLC bought a new position in shares of Digital Turbine in the 3rd quarter worth $84,000. Finally, Brooktree Capital Management boosted its position in shares of Digital Turbine by 7.4% in the 3rd quarter. Brooktree Capital Management now owns 365,621 shares of the software maker’s stock worth $1,122,000 after purchasing an additional 25,061 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Digital Turbine

In other news, Director Robert M. Deutschman purchased 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $1.41 per share, with a total value of $141,000.00. Following the purchase, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This trade represents a 21.22 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 127,000 shares of company stock valued at $175,610 in the last 90 days. 5.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on APPS. Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.50 to $1.00 in a research report on Friday, November 15th. Craig Hallum reduced their price target on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie reduced their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. One investment 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 a consensus price target of $2.38.

Digital Turbine Stock Performance

APPS stock opened at $1.93 on Thursday. The business’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $2.40. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24. The firm has a market cap of $200.19 million, a PE ratio of -0.65 and a beta of 2.34. Digital Turbine, Inc. has a 1-year low of $1.18 and a 1-year high of $6.03.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $125.85 million. During the same period in the prior year, the business earned $0.04 EPS. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, research analysts forecast that Digital Turbine, Inc. will post -0.13 earnings per share for the current year.

Digital Turbine Company 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.