Digital Turbine, Inc. $APPS Shares Purchased by Vanguard Group Inc.

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. increased its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,869,396 shares of the software maker's stock after buying an additional 893,035 shares during the period. Vanguard Group Inc. owned about 8.45% of Digital Turbine worth $24,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of APPS. Cetera Investment Advisers lifted its holdings in shares of Digital Turbine by 94.3% in the fourth 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 lifted its holdings in shares of Digital Turbine by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock valued at $46,000 after purchasing an additional 8,892 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Digital Turbine in the fourth quarter valued at about $54,000. Pallas Capital Advisors LLC purchased a new stake in shares of Digital Turbine in the first quarter valued at about $58,000. Finally, Lido Advisors LLC lifted its holdings 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 valued at $63,000 after purchasing an additional 15,039 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company's stock.

Digital Turbine Trading Up 1.2%

Shares of APPS traded up $0.05 on Wednesday, hitting $4.20. 1,921,135 shares of the stock traded hands, compared to its average volume of 3,852,849. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $455.20 million, a P/E ratio of -5.45, a P/E/G ratio of 2.68 and a beta of 2.29. The stock's 50 day moving average is $4.96 and its two-hundred day moving average is $4.25. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.77.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm 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, sell-side analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APPS shares. Bank of America raised shares of Digital Turbine from an "underperform" rating to a "neutral" rating and upped their price target for the company from $4.50 to $5.50 in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Digital Turbine from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Craig Hallum upped their price target on shares of Digital Turbine from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.17.

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.