Digital Turbine, Inc. (NASDAQ:APPS) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 541,825 shares of the software maker's stock after purchasing an additional 153,991 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Digital Turbine worth $916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Digital Turbine by 28.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker's stock worth $64,000 after buying an additional 8,426 shares during the last quarter. Intech Investment Management LLC boosted its position in Digital Turbine by 58.7% in the 4th quarter. Intech Investment Management LLC now owns 43,204 shares of the software maker's stock worth $73,000 after purchasing an additional 15,977 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Plancorp LLC purchased a new position in shares of Digital Turbine during the 4th quarter valued at approximately $35,000. Finally, Ieq Capital LLC acquired a new position in shares of Digital Turbine in the 4th quarter valued at $55,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Digital Turbine from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $2.38.

Digital Turbine Price Performance

Shares of APPS stock traded up $0.09 during trading hours on Friday, hitting $3.10. 1,939,098 shares of the company's stock were exchanged, compared to its average volume of 4,262,974. Digital Turbine, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $6.86. The firm has a market cap of $325.52 million, a P/E ratio of -1.02 and a beta of 2.41. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. The firm has a 50 day moving average of $3.06 and a two-hundred day moving average of $2.70.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. Sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 EPS 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.