Vanguard Group Inc. Purchases 893,035 Shares of Digital Turbine, Inc. $APPS

Key Points

• Vanguard Group Inc. has increased its holdings in Digital Turbine, Inc. by 11.2%, owning approximately 8.45% of the company, equating to around $24 million.
• Multiple hedge funds have also increased their stakes in Digital Turbine, with ProShare Advisors boosting its position by 49.0% in the fourth quarter.
• Digital Turbine reported an EPS of $0.05 for the last quarter, missing analysts' expectations by $0.05, while generating revenues of $130.93 million, surpassing estimates.

Vanguard Group Inc. lifted its position in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,869,396 shares of the software maker's stock after purchasing an additional 893,035 shares during the quarter. Vanguard Group Inc. owned 8.45% of Digital Turbine worth $24,080,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC bought a new stake in Digital Turbine in the first quarter valued at $58,000. Cerity Partners LLC bought a new stake in shares of Digital Turbine during the first quarter worth $70,000. ProShare Advisors LLC grew its holdings in shares of Digital Turbine by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock worth $46,000 after purchasing an additional 8,892 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after purchasing an additional 13,317 shares during the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Digital Turbine during the first quarter worth $78,000. 63.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Digital Turbine Trading Down 1.4%

NASDAQ:APPS traded down $0.06 during mid-day trading on Friday, hitting $4.20. The company had a trading volume of 1,849,699 shares, compared to its average volume of 4,234,983. Digital Turbine, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $7.77. The business's fifty day moving average is $5.02 and its two-hundred day moving average is $4.27. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $455.18 million, a P/E ratio of -5.45, a P/E/G ratio of 2.68 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. The company 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, research analysts expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current 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.