Granahan Investment Management Inc. MA bought a new stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 231,976 shares of the software maker’s stock, valued at approximately $350,000. Granahan Investment Management Inc. MA owned 0.32% of Digital Turbine as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Unterberg Capital LLC acquired a new position in Digital Turbine during the second quarter worth $412,000. Essex Investment Management Co. LLC acquired a new position in Digital Turbine during the third quarter worth $665,000. EAM Investors LLC acquired a new position in Digital Turbine during the third quarter worth $465,000. Trellus Management Company LLC raised its holdings in Digital Turbine by 16.8% during the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after buying an additional 100,689 shares during the last quarter. Finally, White Pine Capital LLC raised its holdings in Digital Turbine by 23.2% during the second quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock worth $747,000 after buying an additional 136,800 shares during the last quarter. Institutional investors own 20.98% of the company’s stock.
In other news, CEO William Gordon Stone III bought 50,000 shares of Digital Turbine stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $1.56 per share, for a total transaction of $78,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.
Digital Turbine, Inc. (APPS) opened at $1.85 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.19. Digital Turbine, Inc. has a 1-year low of $0.64 and a 1-year high of $1.98.
Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, November 7th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative net margin of 20.41% and a negative return on equity of 23.85%. The firm had revenue of $27.90 million during the quarter, compared to analyst estimates of $26.96 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business’s revenue was up 22.4% compared to the same quarter last year. research analysts expect that Digital Turbine, Inc. will post -0.18 earnings per share for the current year.
Several research firms have weighed in on APPS. Zacks Investment Research upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Roth Capital restated a “buy” rating on shares of Digital Turbine in a report on Monday, December 4th. B. Riley restated a “buy” rating and set a $2.00 price objective (up previously from $1.40) on shares of Digital Turbine in a report on Wednesday, November 8th. Finally, ValuEngine downgraded shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1.55.
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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.
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