Counterpoint Mutual Funds LLC Sells 550,203 Shares of Digital Turbine, Inc. $APPS

Counterpoint Mutual Funds LLC trimmed its stake in Digital Turbine, Inc. (NASDAQ:APPS) by 86.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 84,339 shares of the software maker’s stock after selling 550,203 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Digital Turbine were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after buying an additional 2,449 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Digital Turbine by 74.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 437,310 shares during the last quarter. Strs Ohio bought a new stake in Digital Turbine during the first quarter worth about $41,000. Creative Planning increased its holdings in Digital Turbine by 39.2% during the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock valued at $126,000 after purchasing an additional 5,991 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Digital Turbine by 272.0% in the second quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock valued at $4,049,000 after buying an additional 501,829 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.

Analysts Set New Price Targets

APPS has been the subject of several research reports. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Finally, Weiss Ratings cut Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Digital Turbine currently has an average rating of “Moderate Buy” and an average target price of $8.75.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $12.71 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. The business’s 50 day moving average is $7.32 and its 200-day moving average is $5.33. Digital Turbine, Inc. has a 1-year low of $2.74 and a 1-year high of $13.60. The firm has a market cap of $1.53 billion, a P/E ratio of -35.30, a price-to-earnings-growth ratio of 0.98 and a beta of 2.75.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million during the quarter, compared to analysts’ expectations of $133.22 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. Equities research analysts predict that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.