William Gordon Stone III Purchases 12,500 Shares of Digital Turbine Inc (NASDAQ:APPS) Stock

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Digital Turbine Inc (NASDAQ:APPS) CEO William Gordon Stone III acquired 12,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $7.02 per share, for a total transaction of $87,750.00.

NASDAQ APPS opened at $6.77 on Friday. The stock has a market capitalization of $608.92 million, a PE ratio of 50.14 and a beta of 1.57. The company has a 50 day moving average price of $6.99 and a two-hundred day moving average price of $7.08. Digital Turbine Inc has a 12-month low of $2.65 and a 12-month high of $9.13.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Monday, February 10th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $36.02 million during the quarter, compared to analyst estimates of $37.58 million. Digital Turbine had a negative net margin of 5.35% and a positive return on equity of 28.03%. On average, analysts expect that Digital Turbine Inc will post 0.16 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Man Group plc acquired a new stake in shares of Digital Turbine in the third quarter worth $543,000. State Street Corp lifted its stake in shares of Digital Turbine by 30.9% in the third quarter. State Street Corp now owns 1,724,788 shares of the software maker’s stock worth $11,116,000 after buying an additional 406,840 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Digital Turbine by 5.6% in the third quarter. California Public Employees Retirement System now owns 169,487 shares of the software maker’s stock worth $1,092,000 after buying an additional 9,054 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Digital Turbine in the fourth quarter worth $76,000. Finally, California State Teachers Retirement System lifted its stake in shares of Digital Turbine by 2.6% in the third quarter. California State Teachers Retirement System now owns 122,274 shares of the software maker’s stock worth $788,000 after buying an additional 3,138 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a research report on Wednesday, November 6th. Roth Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Digital Turbine in a research report on Monday, November 25th. B. Riley reaffirmed a “buy” rating and set a $8.75 price objective on shares of Digital Turbine in a research report on Monday, February 10th. Canaccord Genuity reiterated a “buy” rating on shares of Digital Turbine in a research note on Tuesday. Finally, National Securities assumed coverage on shares of Digital Turbine in a research note on Tuesday, December 17th. They issued a “buy” rating and a $11.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $7.66.

About Digital Turbine

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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