Roth Mkm Lowers Digital Turbine (NASDAQ:APPS) to Neutral

Roth Mkm cut shares of Digital Turbine (NASDAQ:APPS – Get Rating) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat.com reports. Roth Mkm currently has $10.00 price objective on the software maker’s stock, down from their previous price objective of $15.00.

A number of other equities research analysts have also weighed in on the stock. StockNews.com initiated coverage on shares of Digital Turbine in a report on Thursday, May 18th. They issued a sell rating on the stock. Oppenheimer cut Digital Turbine from an outperform rating to a market perform rating in a research report on Thursday, February 9th. B. Riley cut their target price on Digital Turbine from $12.00 to $9.00 and set a neutral rating on the stock in a research report on Monday, March 13th. Macquarie cut Digital Turbine from an outperform rating to a neutral rating and set a $12.00 target price for the company. in a research note on Friday, February 17th. Finally, Craig Hallum dropped their price target on shares of Digital Turbine from $30.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $14.71.

Digital Turbine Stock Down 43.0 %

Shares of NASDAQ:APPS opened at $8.23 on Thursday. Digital Turbine has a fifty-two week low of $8.10 and a fifty-two week high of $27.03. The firm’s 50 day moving average price is $12.09 and its 200 day moving average price is $13.90. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.70. The stock has a market cap of $816.42 million, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 1.54 and a beta of 2.47.

Insiders Place Their Bets

In other news, CEO William Gordon Stone III sold 35,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,647,789 shares of the company’s stock, valued at $17,367,696.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William Gordon Stone III sold 35,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,647,789 shares of the company’s stock, valued at $17,367,696.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert M. Deutschman purchased 15,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $9.80 per share, for a total transaction of $147,000.00. Following the acquisition, the director now owns 289,017 shares of the company’s stock, valued at $2,832,366.60. The disclosure for this purchase can be found here. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digital Turbine

A number of large investors have recently bought and sold shares of APPS. Pacer Advisors Inc. purchased a new position in Digital Turbine during the 1st quarter worth $12,510,000. Granahan Investment Management LLC raised its position in Digital Turbine by 28.1% during the 1st quarter. Granahan Investment Management LLC now owns 4,408,860 shares of the software maker’s stock worth $54,494,000 after buying an additional 968,396 shares during the last quarter. Norges Bank purchased a new position in Digital Turbine during the 4th quarter worth $13,125,000. Vanguard Group Inc. raised its position in Digital Turbine by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,649,564 shares of the software maker’s stock worth $153,461,000 after buying an additional 843,856 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Digital Turbine by 579,654.9% during the 1st quarter. Federated Hermes Inc. now owns 707,301 shares of the software maker’s stock worth $8,742,000 after buying an additional 707,179 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

About Digital Turbine

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).