Perkins Capital Management Inc. Purchases 171,400 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Perkins Capital Management Inc. raised its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 79.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 387,600 shares of the software maker's stock after acquiring an additional 171,400 shares during the period. Perkins Capital Management Inc. owned approximately 0.37% of Digital Turbine worth $655,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its holdings in Digital Turbine by 28.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker's stock worth $64,000 after purchasing an additional 8,426 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Digital Turbine by 58.7% during the 4th quarter. Intech Investment Management LLC now owns 43,204 shares of the software maker's stock valued at $73,000 after buying an additional 15,977 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Digital Turbine in the 4th quarter worth $28,000. Plancorp LLC bought a new stake in shares of Digital Turbine in the fourth quarter worth $35,000. Finally, Ieq Capital LLC purchased a new stake in Digital Turbine during the fourth quarter valued at $55,000. 63.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.38.

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Digital Turbine Price Performance

NASDAQ:APPS traded down $0.25 during trading hours on Friday, hitting $2.84. 3,760,762 shares of the stock traded hands, compared to its average volume of 4,134,001. The company has a market cap of $298.22 million, a price-to-earnings ratio of -0.94 and a beta of 2.43. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $6.86. The stock has a 50 day moving average price of $3.59 and a 200 day moving average price of $2.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its 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%. Sell-side analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

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.