Arrowstreet Capital Limited Partnership Has $4.21 Million Holdings in Digital Turbine, Inc. $APPS

Key Points

• Arrowstreet Capital reduced its Digital Turbine stake by 31.4% in the first quarter, selling 669,108 shares and retaining 1.46 million shares worth approximately $4.21 million. Institutional investors and hedge funds collectively own 63.66% of the company.
• Digital Turbine reported quarterly earnings of $0.16 per share, exceeding the $0.09 consensus estimate, while revenue of $142.55 million also surpassed expectations.
• Analyst sentiment is mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $11.00, compared with a recent share price of $9.00.

Arrowstreet Capital Limited Partnership cut its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 31.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,460,255 shares of the software maker's stock after selling 669,108 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.22% of Digital Turbine worth $4,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Digital Turbine by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker's stock worth $45,509,000 after purchasing an additional 29,540 shares in the last quarter. Granahan Investment Management LLC grew its holdings in Digital Turbine by 11.1% during the 4th quarter. Granahan Investment Management LLC now owns 6,349,463 shares of the software maker's stock worth $31,747,000 after acquiring an additional 635,526 shares during the last quarter. AIGH Capital Management LLC bought a new stake in Digital Turbine during the 1st quarter worth about $14,100,000. Bank of America Corp DE increased its position in Digital Turbine by 20.6% in the 3rd quarter. Bank of America Corp DE now owns 2,687,381 shares of the software maker's stock valued at $17,199,000 after acquiring an additional 459,605 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Digital Turbine by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,528,772 shares of the software maker's stock valued at $12,646,000 after acquiring an additional 110,871 shares in the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $9.00 on Tuesday. The firm has a fifty day moving average of $9.51 and a two-hundred day moving average of $5.93. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -25.00, a PEG ratio of 0.62 and a beta of 2.81. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16. Digital Turbine, Inc. has a 52 week low of $2.74 and a 52 week high of $13.60.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million for the quarter, compared to analyst estimates of $133.22 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. As a group, equities research analysts predict that Digital Turbine, Inc. will post 0.68 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Digital Turbine from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, June 5th. Zacks Research cut shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Benchmark began coverage on shares of Digital Turbine in a report on Tuesday, July 21st. They issued a "buy" rating and a $15.00 price target for the company. Wall Street Zen upgraded shares of Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Finally, Roth Capital assumed coverage on Digital Turbine in a report on Tuesday, July 21st. They set a "buy" rating and a $11.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.00.

Digital Turbine Profile

Digital Turbine, Inc NASDAQ: APPS is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company's flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.

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