Unterberg Capital LLC grew its position in shares of Digital Turbine Inc (NASDAQ:APPS) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,600,000 shares of the software maker’s stock after purchasing an additional 250,000 shares during the period. Digital Turbine comprises about 3.5% of Unterberg Capital LLC’s holdings, making the stock its 16th largest holding. Unterberg Capital LLC owned approximately 2.13% of Digital Turbine worth $2,864,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of APPS. Perkins Capital Management Inc. increased its holdings in Digital Turbine by 5.5% during the 3rd quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock valued at $1,376,000 after purchasing an additional 47,500 shares during the period. P.A.W. Capital Corp grew its holdings in shares of Digital Turbine by 5.0% during the 3rd quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock worth $1,268,000 after acquiring an additional 40,000 shares during the period. Trellus Management Company LLC grew its holdings in shares of Digital Turbine by 16.8% during the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after acquiring an additional 100,689 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Digital Turbine during the 3rd quarter worth approximately $665,000. Finally, EAM Investors LLC purchased a new position in shares of Digital Turbine during the 3rd quarter worth approximately $465,000. 22.57% of the stock is owned by hedge funds and other institutional investors.
APPS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Digital Turbine from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Roth Capital reissued a “buy” rating on shares of Digital Turbine in a research report on Monday, December 4th. B. Riley reissued a “buy” rating and issued a $2.50 price target on shares of Digital Turbine in a research report on Tuesday, January 30th. Finally, ValuEngine cut Digital Turbine from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1.91.
Digital Turbine (NASDAQ:APPS) last announced its earnings results on Wednesday, February 7th. The software maker reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $38.03 million for the quarter, compared to analysts’ expectations of $31.09 million. Digital Turbine had a negative net margin of 18.66% and a negative return on equity of 22.65%. analysts predict that Digital Turbine Inc will post -0.23 EPS for the current year.
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Digital Turbine Company Profile
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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