S Squared Technology LLC Increases Position in Digital Turbine, Inc. $APPS

Key Points

• S Squared Technology LLC significantly increased its stake in Digital Turbine, boosting its position by 241.2% to own 730,326 shares worth approximately $1.98 million.
• Several institutional investors including Russell Investments Group and Vanguard Group have been actively buying shares, indicating strong institutional interest with 63.66% of the stock owned by such investors.
• Digital Turbine reported earnings per share of $0.05, falling short of analyst expectations, while revenue of $130.93 million exceeded estimates of $121.94 million, and the stock currently holds a consensus rating of "Hold".

S Squared Technology LLC lifted its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 241.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,326 shares of the software maker's stock after purchasing an additional 516,266 shares during the quarter. S Squared Technology LLC owned about 0.70% of Digital Turbine worth $1,983,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Digital Turbine by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after purchasing an additional 893,035 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Digital Turbine by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after purchasing an additional 337,959 shares during the period. Bank of America Corp DE increased its holdings in shares of Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after purchasing an additional 724,297 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Digital Turbine by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock valued at $2,775,000 after purchasing an additional 7,100 shares during the period. Finally, Greenhaven Road Investment Management L.P. increased its holdings in shares of Digital Turbine by 467.1% in the first quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock valued at $2,785,000 after purchasing an additional 845,051 shares during the period. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Stock Performance

Shares of NASDAQ APPS traded up $0.06 during trading on Friday, reaching $4.62. 3,780,987 shares of the company traded hands, compared to its average volume of 2,686,332. The firm's fifty day simple moving average is $4.77 and its 200 day simple moving average is $4.25. The stock has a market cap of $500.72 million, a P/E ratio of -6.00, a PEG ratio of 2.95 and a beta of 2.29. Digital Turbine, Inc. has a 12-month low of $1.18 and a 12-month high of $7.77. 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 released its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). The company had revenue of $130.93 million for the quarter, compared to analysts' expectations of $121.94 million. Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. Digital Turbine has set its FY 2026 guidance at EPS. As a group, research analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on APPS. Bank of America raised Digital Turbine from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $4.50 to $5.50 in a report on Wednesday, August 6th. Craig Hallum increased their price objective on Digital Turbine from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered Digital Turbine from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Digital Turbine currently has an average rating of "Hold" and an average price target of $5.17.

About Digital Turbine

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.