Digital Turbine, Inc. (NASDAQ:APPS) CEO William Gordon Stone III Sells 35,000 Shares

Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) CEO William Gordon Stone III sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $10.54, for a total value of $368,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,647,789 shares of the company’s stock, valued at $17,367,696.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

William Gordon Stone III also recently made the following trade(s):

• On Thursday, March 2nd, William Gordon Stone III sold 36,025 shares of Digital Turbine stock. The shares were sold at an average price of $10.75, for a total value of $387,268.75.

Digital Turbine Stock Performance

APPS traded down $0.15 on Friday, reaching $10.23. 3,758,704 shares of the stock were exchanged, compared to its average volume of 2,399,725. The company’s 50-day moving average price is $13.74 and its 200 day moving average price is $15.06. Digital Turbine, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $47.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $1.01 billion, a PE ratio of 20.88, a PEG ratio of 1.01 and a beta of 2.49.

Digital Turbine (NASDAQ:APPS – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The software maker reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). The company had revenue of $162.31 million for the quarter, compared to analysts’ expectations of $184.94 million. Digital Turbine had a net margin of 7.14% and a return on equity of 21.20%. As a group, sell-side analysts forecast that Digital Turbine, Inc. will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in shares of Digital Turbine in the 1st quarter valued at about $58,000. Canada Pension Plan Investment Board purchased a new stake in Digital Turbine during the 1st quarter worth approximately $73,000. Parkside Financial Bank & Trust increased its stake in Digital Turbine by 74.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,737 shares of the software maker’s stock worth $25,000 after buying an additional 741 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Digital Turbine during the 4th quarter worth approximately $31,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Digital Turbine by 90.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,343 shares of the software maker’s stock worth $34,000 after buying an additional 1,110 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APPS. Macquarie downgraded Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Friday, February 17th. Craig Hallum reduced their price target on Digital Turbine from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. StockNews.com started coverage on Digital Turbine in a report on Thursday. They set a “sell” rating on the stock. Oppenheimer downgraded Digital Turbine from an “outperform” rating to a “market perform” rating in a report on Thursday, February 9th. Finally, B. Riley reduced their price objective on Digital Turbine from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.17.

Digital Turbine Company Profile

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).