Digital Turbine, Inc. (NASDAQ:APPS) shares were bought by Bayesian Capital Management LP

Bayesian Capital Management LP boosted its position in shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Rating ) by 229.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,889 shares of the software maker’s stock after purchasing an additional 23,600 shares during the period. Bayesian Capital Management LP’s holdings in Digital Turbine were worth $488,000 at the end of the most recent reporting period.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in Digital Turbine by 74.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,737 shares of the software maker’s stock valued at $25,000 after buying an additional 741 shares during the period. Bank Julius Baer & Co. Ltd. Zurich raised its stake in Digital Turbine by 90.0% in the third quarter. Bank Julius Baer & Co. Ltd. Zurich now owns 2,343 shares of the software maker’s stock valued at $34,000 after purchasing an additional 1,110 shares during the period. Lazard Asset Management LLC boosted its position in Digital Turbine by 86.6% in the second quarter. Lazard Asset Management LLC now owns 2,110 shares of the software maker’s stock valued at $36,000 after purchasing an additional 979 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Digital Turbine in the third quarter valued at approximately $38,000. Finally, Money Concepts Capital Corp grew its holdings in shares of Digital Turbine by 5,650.0% in the 3rd quarter. Money Concepts Capital Corp now owns 3,680 shares of the software maker’s stock valued at $53,000 after buying an additional 3,616 shares in the last quarter. 62.45% of the shares are owned by institutional investors and hedge funds.

Wall Street analysts predict growth

Several analysts recently commented on the stock. Oppenheimer lowered shares of Digital Turbine from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 9th. Craig Hallum reduced their target price on Digital Turbine from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. Macquarie cut Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Friday, February 17th. B. Riley downgraded Digital Turbine from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $16.00 in a report on Wednesday, February 1st. Finally, StockNews.com lowered shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, February 13th. One research analyst has rated the company’s stock with a sell rating, three have given a hold rating and two have issued a buy rating. Digital Turbine currently has a consensus rating of “Hold” and an average price target of $19.33, according to MarketBeat.

Digital Turbines Trading Decrease 0.9%

Shares of NASDAQ APPS stock opened at $10.76 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18, and a debt-to-equity ratio of 0.70. Digital Turbine, Inc. has a one year low of $10.51 and a one year high of $47.47. The company has a 50-day moving average of $14.81 and a 200-day moving average of $16.00. The company has a market capitalization of $1.07 billion, a PE ratio of 21.96, a PEG ratio of 1.05, and a beta of 2.49.

Digital Turbine (NASDAQ:APPS – Get Rating ) last posted its quarterly earnings results on Wednesday, February 8th. The software maker reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). The company had revenue of $162.31 million for the quarter, compared to analyst estimates of $184.94 million. Digital Turbine has a return on equity of 21.20% and a net margin of 7.14%. As a group, analysts predict that Digital Turbine, Inc. will post 0.94 earnings per share for the current fiscal year.

Let the insiders place their bets

In related news, CEO William Gordon Stone III sold 36,025 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $10.75, for a total of $387,268.75. Following the completion of the sale, the chief executive officer now owns 1,682,789 shares of the company’s stock, valued at approximately $18,089,981.75. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.50% of the company’s shares.

Digital turbine profile

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Digital Turbine, Inc. is a media and mobile communications innovator providing an end-to-end platform solution for mobile operators, application developers, original equipment manufacturers (OEMs) and other third parties. It operates through the following segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).

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