Charles Schwab Investment Management Inc. Decreases Stock Holdings in Digital Turbine, Inc. $APPS

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Digital Turbine by 9.7%, holding approximately 800,197 shares, valued at $2.17 million.
• Digital Turbine's stock received a mix of upgrades and downgrades from various analysts, with a price target increase by Bank of America from $4.50 to $5.50.
• The company reported a quarterly EPS of $0.05, missing the consensus estimate of $0.10 but achieving revenues of $130.93 million, exceeding expectations.

Charles Schwab Investment Management Inc. cut its stake in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 800,197 shares of the software maker's stock after selling 86,311 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of Digital Turbine worth $2,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its holdings in shares of Digital Turbine by 94.3% during the 4th quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock valued at $46,000 after purchasing an additional 13,317 shares in the last quarter. ProShare Advisors LLC grew its position in Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after buying an additional 8,892 shares during the period. Lazard Asset Management LLC acquired a new stake in Digital Turbine during the fourth quarter valued at $54,000. Pallas Capital Advisors LLC purchased a new position in Digital Turbine in the first quarter valued at $58,000. Finally, Lido Advisors LLC raised its position in shares of Digital Turbine by 68.1% in the fourth quarter. Lido Advisors LLC now owns 37,130 shares of the software maker's stock worth $63,000 after acquiring an additional 15,039 shares during the period. Institutional investors and hedge funds own 63.66% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APPS. Bank of America upgraded Digital Turbine from an "underperform" rating to a "neutral" rating and raised their target price for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Craig Hallum increased their price target on Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Digital Turbine from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.17.

Digital Turbine Price Performance

NASDAQ:APPS traded up $0.04 during trading hours on Thursday, hitting $4.24. 2,122,790 shares of the stock were exchanged, compared to its average volume of 2,822,118. The firm's fifty day moving average price is $4.94 and its 200 day moving average price is $4.24. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77. The company has a market cap of $459.53 million, a P/E ratio of -5.51, a P/E/G ratio of 2.68 and a beta of 2.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63.

Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%.The firm had revenue of $130.93 million during the quarter, compared to analyst estimates of $121.94 million. Digital Turbine has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

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.