Digital Turbine, Inc. $APPS Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 61.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,800 shares of the software maker’s stock after selling 459,500 shares during the period. Renaissance Technologies LLC’s holdings in Digital Turbine were worth $814,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of APPS. AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine during the first quarter worth about $14,100,000. Invesco Ltd. boosted its position in shares of Digital Turbine by 369.0% in the 4th quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after purchasing an additional 1,438,986 shares during the period. Manatuck Hill Partners LLC boosted its position in shares of Digital Turbine by 233.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after purchasing an additional 1,400,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after buying an additional 846,116 shares during the last quarter. Finally, UBS Group AG grew its stake in Digital Turbine by 444.0% during the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after buying an additional 636,267 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Stock Performance

Shares of APPS stock opened at $12.44 on Friday. The stock’s 50-day moving average price is $10.36 and its 200 day moving average price is $6.41. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.51 billion, a PE ratio of -47.85, a price-to-earnings-growth ratio of 0.53 and a beta of 2.81. Digital Turbine, Inc. has a 52-week low of $2.74 and a 52-week high of $15.34.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.The company had revenue of $165.98 million during the quarter, compared to analysts’ expectations of $149.98 million. As a group, equities research analysts forecast that Digital Turbine, Inc. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APPS. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, May 27th. Wall Street Zen cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Benchmark increased their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Craig Hallum reiterated a “buy” rating and set a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Digital Turbine Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.