Bank of New York Mellon Corp purchased a new stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 416,626 shares of the software maker's stock, valued at approximately $5,374,000. Bank of New York Mellon Corp owned about 0.34% of Digital Turbine at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Digital Turbine by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker's stock valued at $6,778,000 after buying an additional 846,116 shares during the last quarter. Granahan Investment Management LLC increased its holdings in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock worth $20,484,000 after buying an additional 762,888 shares during the last quarter. GC Wealth Management RIA LLC raised its position in Digital Turbine by 41.9% during the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock worth $1,660,000 after acquiring an additional 170,134 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in Digital Turbine in the first quarter valued at $14,100,000. Finally, Globeflex Capital L P bought a new position in shares of Digital Turbine in the 1st quarter valued at about $1,227,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.
Digital Turbine Stock Down 1.6%
Shares of NASDAQ APPS opened at $10.71 on Friday. The company has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $7.06. The firm has a market cap of $1.30 billion, a PE ratio of -41.19, a price-to-earnings-growth ratio of 0.46 and a beta of 2.87. Digital Turbine, Inc. has a 1 year low of $2.74 and a 1 year high of $15.34. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20.
Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. The company had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. On average, research analysts forecast that Digital Turbine, Inc. will post 0.75 EPS for the current year.
Wall Street Analyst Weigh In
APPS has been the subject of several recent analyst reports. Roth Capital reiterated a "buy" rating and issued a $17.50 target price on shares of Digital Turbine in a research note on Thursday, August 6th. Wall Street Zen raised Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Digital Turbine in a research report on Wednesday. Zacks Research downgraded Digital Turbine from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Bank of America raised Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.75.
Get Our Latest Analysis on Digital Turbine
About Digital Turbine
(
Free Report)
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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