Harbor Capital Advisors Inc. Sells 1,230,868 Shares of Digital Turbine, Inc. $APPS

Harbor Capital Advisors Inc. reduced its position in Digital Turbine, Inc. (NASDAQ:APPS) by 60.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 808,223 shares of the software maker’s stock after selling 1,230,868 shares during the period. Harbor Capital Advisors Inc.’s holdings in Digital Turbine were worth $5,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after acquiring an additional 2,449 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Digital Turbine by 31.6% in the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock valued at $63,000 after purchasing an additional 2,550 shares in the last quarter. Osaic Holdings Inc. increased its position in Digital Turbine by 22.5% in the second quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock worth $107,000 after purchasing an additional 3,322 shares during the last quarter. Creative Planning increased its position in Digital Turbine by 39.2% in the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after purchasing an additional 5,991 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Digital Turbine by 5.3% during the second quarter. Rhumbline Advisers now owns 154,950 shares of the software maker’s stock valued at $914,000 after purchasing an additional 7,749 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of recent research reports. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Digital Turbine currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Digital Turbine Trading Up 3.9%

APPS stock opened at $5.43 on Thursday. Digital Turbine, Inc. has a twelve month low of $1.64 and a twelve month high of $8.28. The stock has a market capitalization of $608.41 million, a price-to-earnings ratio of -7.43, a price-to-earnings-growth ratio of 1.54 and a beta of 2.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.66. The firm’s fifty day simple moving average is $5.47 and its two-hundred day simple moving average is $5.34.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $140.38 million during the quarter, compared to analyst estimates of $142.00 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. As a group, analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

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.