Charles Schwab Investment Management Inc. Acquires 110,427 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Charles Schwab Investment Management Inc. boosted its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,508 shares of the software maker's stock after purchasing an additional 110,427 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of Digital Turbine worth $1,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its stake in shares of Digital Turbine by 28.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker's stock valued at $64,000 after buying an additional 8,426 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Digital Turbine in the 4th quarter worth approximately $28,000. Intech Investment Management LLC acquired a new stake in shares of Digital Turbine during the 3rd quarter worth approximately $84,000. Ieq Capital LLC bought a new stake in shares of Digital Turbine during the fourth quarter valued at approximately $55,000. Finally, XTX Topco Ltd raised its stake in shares of Digital Turbine by 33.8% in the third quarter. XTX Topco Ltd now owns 169,868 shares of the software maker's stock valued at $521,000 after purchasing an additional 42,954 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Price Performance

Shares of APPS stock traded up $0.14 during trading hours on Wednesday, hitting $2.96. The company had a trading volume of 3,864,004 shares, compared to its average volume of 4,147,651. Digital Turbine, Inc. has a 12 month low of $1.18 and a 12 month high of $6.86. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.06 and a current ratio of 1.06. The firm's fifty day moving average is $3.63 and its 200 day moving average is $2.72. The firm has a market capitalization of $310.82 million, a price-to-earnings ratio of -0.98 and a beta of 2.47.

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Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. On average, sell-side analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.38.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.