Franklin Resources Inc. Buys Shares of 60,318 Digital Turbine, Inc. (NASDAQ:APPS)

Franklin Resources Inc. purchased a new position in Digital Turbine, Inc. (NASDAQ:APPS) during the 3rd quarter, Holdings Channel reports. The fund purchased 60,318 shares of the software maker’s stock, valued at approximately $185,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers lifted its position in Digital Turbine by 3.9% during the second quarter. Rhumbline Advisers now owns 152,877 shares of the software maker’s stock valued at $254,000 after purchasing an additional 5,734 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Digital Turbine by 35.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 157,730 shares of the software maker’s stock valued at $262,000 after buying an additional 40,914 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $594,000. American Century Companies Inc. increased its holdings in Digital Turbine by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 58,781 shares of the software maker’s stock worth $98,000 after acquiring an additional 7,725 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Digital Turbine in the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Insider Buying and Selling at Digital Turbine

In other news, Director Robert M. Deutschman bought 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $1.41 per share, for a total transaction of $141,000.00. Following the transaction, the director now owns 571,216 shares of the company’s stock, valued at $805,414.56. The trade was a 21.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 127,000 shares of company stock worth $175,610 in the last quarter. 5.80% of the stock is owned by corporate insiders.

Digital Turbine Price Performance

APPS stock opened at $1.76 on Friday. The company has a market capitalization of $182.56 million, a PE ratio of -0.60 and a beta of 2.38. The company’s fifty day moving average price is $1.86 and its 200-day moving average price is $2.37. Digital Turbine, Inc. has a one year low of $1.18 and a one year high of $6.76. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.09 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $125.85 million. Digital Turbine had a negative net margin of 61.17% and a positive return on equity of 3.32%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period last year, the company earned $0.04 EPS. On average, equities analysts anticipate that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Craig Hallum dropped their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.38.

About Digital Turbine

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.