Perkins Capital Management Inc. raised its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 911,080 shares of the software maker’s stock after purchasing an additional 47,500 shares during the period. Digital Turbine accounts for 1.4% of Perkins Capital Management Inc.’s holdings, making the stock its 19th biggest holding. Perkins Capital Management Inc. owned 1.37% of Digital Turbine worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Davis & CO. Inc. acquired a new position in shares of Digital Turbine during the third quarter valued at about $101,000. Carleon Capital Partners LLC acquired a new position in shares of Digital Turbine during the second quarter valued at about $2,673,000. Unterberg Capital LLC acquired a new position in shares of Digital Turbine during the second quarter valued at about $412,000. Essex Investment Management Co. LLC acquired a new position in shares of Digital Turbine during the third quarter valued at about $665,000. Finally, Trellus Management Company LLC grew its holdings in shares of Digital Turbine by 16.2% during the second quarter. Trellus Management Company LLC now owns 600,000 shares of the software maker’s stock valued at $618,000 after buying an additional 83,675 shares during the last quarter. Hedge funds and other institutional investors own 16.11% of the company’s stock.

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In other news, CEO William Gordon Stone III acquired 126,400 shares of Digital Turbine stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $1.12 per share, for a total transaction of $141,568.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 4.80% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on APPS. Zacks Investment Research cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. ValuEngine upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Tuesday. B. Riley reiterated a “buy” rating and set a $1.40 price objective on shares of Digital Turbine in a report on Tuesday, August 8th. Finally, Roth Capital set a $1.00 price target on shares of Digital Turbine and gave the stock a “buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $1.43.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, August 7th. The software maker reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $26.10 million during the quarter, compared to analyst estimates of $24.46 million. Digital Turbine had a negative net margin of 22.54% and a negative return on equity of 31.91%. During the same period last year, the business earned ($0.11) EPS.

Digital Turbine Company Profile

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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