Bank of America Corp DE grew its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 55.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,028,022 shares of the software maker's stock after buying an additional 724,297 shares during the quarter. Bank of America Corp DE owned 1.93% of Digital Turbine worth $3,427,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Digital Turbine in the 4th quarter valued at about $1,698,000. Charles Schwab Investment Management Inc. raised its stake in shares of Digital Turbine by 14.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker's stock worth $1,498,000 after purchasing an additional 110,427 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Digital Turbine by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock worth $916,000 after purchasing an additional 153,991 shares during the last quarter. Perkins Capital Management Inc. lifted its holdings in shares of Digital Turbine by 79.3% in the fourth quarter. Perkins Capital Management Inc. now owns 387,600 shares of the software maker's stock valued at $655,000 after purchasing an additional 171,400 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Digital Turbine during the fourth quarter valued at approximately $490,000. 63.66% of the stock is owned by institutional investors.
Digital Turbine Stock Down 3.3%
Shares of APPS traded down $0.15 during trading hours on Wednesday, reaching $4.43. 4,850,032 shares of the stock traded hands, compared to its average volume of 4,347,044. Digital Turbine, Inc. has a 52 week low of $1.18 and a 52 week high of $6.86. The company has a market cap of $465.18 million, a price-to-earnings ratio of -1.46 and a beta of 2.41. The stock has a fifty day simple moving average of $3.53 and a 200 day simple moving average of $2.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.50.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered Digital Turbine from a "hold" rating to a "sell" rating in a research report on Monday, March 24th.
Get Our Latest Analysis on APPS
Digital Turbine Profile
(
Free Report)
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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