Digital Turbine Inc (NASDAQ:APPS) Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.47, for a total value of $670,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ:APPS opened at $4.64 on Thursday. The company has a market cap of $359.41 million, a PE ratio of 110.00 and a beta of 1.68. Digital Turbine Inc has a fifty-two week low of $1.12 and a fifty-two week high of $4.96.
Several large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Digital Turbine during the first quarter valued at $613,000. Jane Street Group LLC increased its holdings in shares of Digital Turbine by 290.9% during the first quarter. Jane Street Group LLC now owns 46,152 shares of the software maker’s stock valued at $162,000 after acquiring an additional 34,344 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Digital Turbine during the first quarter valued at $240,000. RMB Capital Management LLC bought a new position in shares of Digital Turbine during the first quarter valued at $482,000. Finally, Morgan Stanley increased its holdings in shares of Digital Turbine by 161.0% during the first quarter. Morgan Stanley now owns 126,416 shares of the software maker’s stock valued at $442,000 after acquiring an additional 77,972 shares in the last quarter. 27.95% of the stock is owned by hedge funds and other institutional investors.
APPS has been the subject of several research reports. Zacks Investment Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 7th. BidaskClub lowered Digital Turbine from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. B. Riley reissued a “buy” rating and set a $4.00 price objective (up previously from $2.90) on shares of Digital Turbine in a research note on Tuesday, February 26th. Craig Hallum set a $6.00 price objective on Digital Turbine and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, National Securities reissued a “buy” rating and set a $4.50 price objective on shares of Digital Turbine in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Digital Turbine has a consensus rating of “Buy” and an average target price of $4.97.
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Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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