Digital Turbine, Inc. (NASDAQ:APPS) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 43.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,508 shares of the software maker’s stock after selling 23,914 shares during the quarter. MetLife Investment Management LLC’s holdings in Digital Turbine were worth $94,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of APPS. The Manufacturers Life Insurance Company grew its stake in shares of Digital Turbine by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after purchasing an additional 3,695 shares during the period. Blue Trust Inc. grew its stake in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after purchasing an additional 4,167 shares during the period. Rhumbline Advisers grew its stake in shares of Digital Turbine by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock worth $254,000 after purchasing an additional 5,734 shares during the period. Point72 DIFC Ltd grew its stake in shares of Digital Turbine by 18.4% during the 2nd quarter. Point72 DIFC Ltd now owns 44,603 shares of the software maker’s stock worth $74,000 after purchasing an additional 6,936 shares during the period. Finally, US Bancorp DE grew its stake in shares of Digital Turbine by 37.7% during the 3rd quarter. US Bancorp DE now owns 26,561 shares of the software maker’s stock worth $82,000 after purchasing an additional 7,266 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

Insider Activity

In related news, Director Robert M. Deutschman purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $1.41 per share, for a total transaction of $141,000.00. Following the completion of the purchase, the director now directly owns 571,216 shares of the company’s stock, valued at $805,414.56. This trade represents a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 127,000 shares of company stock valued at $175,610. 5.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APPS shares. Macquarie dropped their price objective on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered Digital Turbine from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.50 to $1.00 in a research report on Friday, November 15th. Finally, Craig Hallum decreased their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.38.

Digital Turbine Stock Down 4.0 %

Shares of NASDAQ:APPS opened at $1.45 on Wednesday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $150.41 million, a PE ratio of -0.49 and a beta of 2.38. The firm’s 50-day moving average is $2.36 and its two-hundred day moving average is $2.39. Digital Turbine, Inc. has a 1 year low of $1.18 and a 1 year high of $7.33.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, November 6th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The firm had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $125.85 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts predict that Digital Turbine, Inc. will post -0.13 EPS for the current 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.